CPI report shows inflation continued to climb
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Inflation ticked up again in September. Price gains were led by increases in the cost of gasoline. See what other costs went up and down.
Economists expect prices to have risen 3.1% in September, which would mark a slight increase from a 2.9% year-over-year increase recorded a month prior. The anticipated reading would amount to the highest inflation since May 2024.
Consumer prices rose in September at an annual rate of 3%, but increased a little less than economists had predicted, the Labor Department reported Friday.
The cost of living got even more expensive for Americans last month, with prices rising at the fastest pace since the start of the year.
Economists think inflation around the U.S. continued to climb in September, edging farther away from the Fed's 2% annual target.
Inflation remained elevated in September as the BLS released the delayed consumer price index inflation report, as Fed policymakers are set to weigh interest rate cuts next week.
Consumer inflation picked up less than expected in September, which should help Federal Reserve officials justify interest-rate cuts to help the weakening job market. The consumer price index climbed 3% year over year in September,
I bond interest rates adjust every six months, and the inflation reading released Friday allows us to calculate what your next rate will be on existing bonds.