The ASX (S&P/ASX 200) is down today largely due to an uptick in inflation reported by the Australian Bureau of Statistics, which showed consumer prices rising 3.0% in the year to August—higher than expected. This inflation increase has dimmed investor hopes for further interest rate cuts by the Reserve Bank of Australia (RBA), especially with the RBA's next rate decision approaching. Additionally, the market is reacting to cautious commentary from US Federal Reserve officials and weaker performance on Wall Street, which is pulling the ASX down alongside global pressure. Most sectors on the ASX are in the red, particularly financials and technology, while only energy and utilities have seen moderate gains influenced by rising oil prices and geopolitical factors. Overall, these inflation data and global economic concerns are leading to the ASX decline today.