THE CENTER SQUARE—Newly released federal inflation data shows that prices rose faster than expected last month, putting more pressure on Americans’ budgets.
The U.S. Bureau of Labor Statistics on Thursday released its consumer price index, a key marker of inflation, which showed that CPI rose 0.2% in September.
While inflation rose more than expected last month, the year-over-year inflation of 2.4% in this latest data is much lower than the major spike in inflation of recent years.
The data comes after the U.S. Federal Reserve announced an interest-rate cut last month, a sign that the Fed thinks inflation is under control enough to lower rates, and thereby boost the economy.
“Disinflation continues, but anyone who thought the Fed was going to lower rates by another .50 basis points in November is dead wrong,” Jamie Cox, managing partner at Harris Financial…
