Inflation remains stubbornly high
CPI rises 0.4% in September, slightly more than expected
The Consumer Price Index (CPI) rose 0.4% in September from August, slightly more than the 0.3% pace economists had expected. The increase was driven by a rise in food and energy prices. The CPI is now up 8.2% over the past 12 months, the largest increase since 1982.
Inflation remains a major concern for the Federal Reserve
The Fed has been raising interest rates in an effort to cool inflation. However, the latest CPI report shows that inflation is still stubbornly high. This could lead the Fed to raise rates more aggressively in the coming months.
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