Inflation rose by 8.2% last month as Americans continue to be punished by high prices, despite unprecedented Fed action
On a monthly basis, overall consumer prices increased by 0.4% from August, according to data released Thursday by the Bureau of Labor Statistics. Economists had projected that the monthly figure would rise by 0.2%. On an annual basis, prices rose by 8.2% in September, a slower increase than the 8.3% rise seen in August, the Consumer Price Index, which measures the changes in prices for a basket of consumer goods and services, showed.
6% increase in September year over year, setting a new high this year and reaching a level not seen since August 1982. The month-to-month core reading showed prices rose 0.6% in September, matching August’s increase of 0.6%, a number that surprised investors and triggered a market meltdown as fears grew that persistent inflation would prompt even more aggressive action from the Fed.
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