Prices for consumer goods and services as measured by the Consumer Price Index (CPI) increased faster than expected in September, hurting household budgets and dealing a setback to the Federal Reserve's battle against inflation.
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September's Inflation Surprise: What Drove CPI Higher Than Expected
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Wholesale Prices Didn't Push Up Inflation In September
The Labor Department on Thursday released closely watched inflation data for September that showed the consumer price index rose 2.4% last month, which was slightly above expectations.
Prices for consumer goods and services as measured by the Consumer Price Index (CPI) increased faster than expected in September, hurting household budgets and dealing a setback to the Federal Reserve's battle against inflation.
Consumer prices saw their smallest annual hike in more than three years in September but spooked markets as the monthly increase was greater than analysts expected.
The consumer price index is expected to have risen just 2.3 percent in September from 12 months earlier, down from the 2.5 percent year-over-year increase in August, according to economists surveyed by FactSet, a data provider.
In another sign of easing U.S. inflation, Producer Price Index September wholesale inflation was unchanged Friday, lower than the 0.1% expected by surveyed Dow economists. It rose 1.8% from September 2023.
September's Inflation Surprise: What Drove CPI Higher Than Expected | Since Then
