US inflation eased slightly in September with consumer prices climbing at a slower pace than predicted.
According to the Bureau of Labour Statistics, the Consumer Price Index (CPI) increased by 0.3% in September compared with the previous month, down from a 0.4% increase in August.
Over the past year, US consumer prices, measured by the CPI increased by 3%, slightly higher than the 2.9% rise reported last month.
The biggest monthly price increase came from petrol, which went up 4.1%, while overall energy prices rose 1.5%.
Food prices increased more slowly, rising 0.2% in September compared with a 0.5% increase in August.
As per the reports, in September, prices for goods and services excluding food and energy such as housing, airline tickets, household items and clothing rose 0.2% compared with the previous month, which is slightly slower than the 0.3% increase in August.
“Today’s release of new consumer price index data shows an economy where prices continue to rise faster than the Federal Reserve’s preferred pace,” Heather Boushey, senior research fellow at the Reimagining the Economy Project at the Harvard Kennedy School, said in comments provided to Al Jazeera.
The CPI report is used to calculate the annual cost-of-living adjustment for Social Security benefits.
