Inflation in the US, as measured by the Consumer Price Index (CPI), rose to 5.4% on a yearly basis in September from 5.3% in August, the US Bureau of Labor Statistics reported on Wednesday. This reading came in line with analysts' estimates. On a monthly basis, the CPI edged higher to 0.4% from 0.3%.

Further details of the publication revealed that the annual Core CPI, which excludes volatile food and energy prices, stayed unchanged at 4% as expected.

Market reaction

With the initial reaction, the US Dollar Index erased a portion of its daily losses and was last seen losing 0.13% on the day at 94.39.