U.S. Posts 3 Percent Rise in September Inflation
(MENAFN) The U.S. consumer price index (CPI) increased 3 percent year on year in September, up slightly from August’s 2.9 percent, according to data released Friday.
On a monthly basis, the CPI edged up 0.3 percent in September, below the 0.4 percent gain recorded in August, the Bureau of Labor Statistics (BLS) reported. The figures mark the only official economic data published during the current government shutdown.
Core CPI, which excludes volatile food and energy costs, rose 0.2 percent month on month and 3 percent year on year, both 0.1 percentage point lower than August’s readings.
Gasoline emerged as the largest driver of inflation last month, surging 4.1 percent, while food prices inched up 0.2 percent. Overall commodity prices advanced 0.5 percent.
On an annual basis, energy costs climbed 2.8 percent, with food prices rising 3.1 percent.
The BLS said it released the figures because the U.S. Social Security Administration relies on CPI data to calculate cost-of-living adjustments for benefit payments. Outside of this release, all federal data collection and reporting have been paused due to the ongoing fiscal standoff in Washington, D.C., local media reported Friday.
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