Inflation came in slightly higher than economists’ expectations as food and shelter costs rose in September.
According to the Bureau of Labor Statistics, the annual inflation rate slowed to 2.4 percent last month, down from 2.5 percent in August. This was above the market estimate of 2.3 percent.
The consumer price index (CPI) jumped at a higher-than-expected pace of 0.2 percent monthly.
Core inflation, which excludes volatile energy and food categories, rose to 3.3 percent in September, up from 3.2 percent the previous month. This was also higher than the consensus estimate of 3.2 percent and represented the first increase since March 2023.
The core CPI also increased at a higher-than-expected rate of 0.3 percent, unchanged from August….