Core Inflation Hits A New High

3
55

U.S. consumer inflation without energy and food hit a new four-decade high in September as prices continued to surge. Persistent high costs will continue and are endemic.

The Labor Department on Thursday said that the so-called core measure of the consumer price index—which excludes volatile energy and food prices—gained 6.6% in September from a year earlier, up from 6.3% in August. That marked the biggest increase since August 1982.

On a monthly basis, the core CPI rose 0.6% in September, the same as in August, and up from 0.3% in July. Investors and policy makers follow core inflation closely as a reflection of broad, underlying inflation and as a predictor of future inflation.

The overall CPI increased 8.2% in September from the same month a year ago, down from 8.3% in August. That was also lower than annual increases of 8.5% in July and 9.1% in June, which was the highest inflation rate in four decades. The CPI measures what consumers pay for goods and services.

Stocks dipped on the news.

 


PowerInbox
0 0 votes
Article Rating
Subscribe
Notify of
guest

3 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
The Prisoner
The Prisoner
3 months ago

Bannon showed the leftist media telling stories about the inflation and claiming it will magically go away over time, with no blame. A year ago the story was it will not occur.

Zigmont
Zigmont
3 months ago

How’s that Inflation Reduction Act working out for us!!!! buckle up folks its gonna get worse!!!!!

GuvGeek
GuvGeek
3 months ago

If you think inflation is going to stop anytime soon you’re going to be sadly disappointed. Even a Red Tsunami will only slow it down.