US Inflation Accelerates as Gasoline Costs Climb
The annual rate increased from 3.4% in August, according to data from the Bureau of Labor Statistics.
Monthly inflation also gathered pace, with the Consumer Price Index (CPI) rising 0.6% in September, compared with a 0.4% increase in the previous month.
Gasoline prices surged 9.1% during September, accounting for more than half of the overall monthly increase in consumer prices. Energy costs rose 5.2%, accelerating significantly from the 2.1% increase recorded in August.
Housing-related expenses added to inflationary pressures, with shelter costs advancing 0.4% in September after posting a 0.3% rise the month before.
Food prices remained broadly stable. A 0.1% decline in grocery costs offset a 0.2% increase in prices at restaurants and other dining establishments, leaving the overall food index unchanged.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
