September 2023 Market Update – Markets recover after a difficult start to the month

With US inflation ticking up for the first time in a year, Federal Reserve Chair Jerome Powell has not
ruled out further interest rate hikes

US share and bond prices dipped after inflation ticked up, though
they recovered as the month drew on. Despite a sharp increase in
interest rates, prices continue to rise in the US, with inflation edging
up to 3.2% in July from 3% the previous month. More importantly, the
core inflation rate – which strips out volatile food and energy prices
– slowed to 4.7% in July from 4.8% in June after a second straight
monthly drop in the prices of used cars and trucks.