Food, rents boost US consumer inflation in September By Reuters – Investing.com

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Gulf
  • Date: 13-Oct-2021
  • Source: Investing.com
  • Sector: Retail
  • Country: Gulf
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Food, rents boost US consumer inflation in September By Reuters – Investing.com

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WASHINGTON (Reuters) – U.S. consumer prices increased solidly in September and are poised to rise further in the months ahead amid a surge in the costs of energy products, which would cast doubts on the Federal Reserve’s view that high inflation is transitory.

The consumer price index rose 0.4% last month after climbing 0.3% in August, the Labor Department said on Wednesday. In the 12 months through September, the CPI increased 5.4% after advancing 5.3% year-on-year in August.

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