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.

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.

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.

The Bureau of Labor Statistics published the new inflation report during the government shutdown, which has affected some of its operations.

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.

The latest inflation report may or may not have an adverse impact on mortgage rates. It's too soon to tell definitively. But it won't help ease the Fed toward additional rate cuts, and it could complicate the mortgage rate climate more than it already is.

The report was originally scheduled to be released on October 15, but was pushed to Friday due to the ongoing government shutdown.

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.