Rising grocery and rent prices pushed U.S. inflation higher than expected in September, fueling concerns as Americans face escalating costs with no signs of relief.
Inflation in the U.S. continues to outpace expectations, with the cost of groceries and rent driving prices even higher. In September, the consumer price index (CPI) rose 2.4 percent compared to the same month last year, according to the Department of Labor. This exceeds economists' forecasts of a 2.3 percent increase and signals that inflationary pressures are persisting despite efforts to control them.
On a monthly basis, prices rose 0.2 percent, a slight acceleration from August's 0.1 percent increase. Core CPI, which excludes volatile food and energy prices, also saw a steeper climb, rising 0.3 percent for the month and 3.3 percent year-over-year—exceeding predictions of 3.2 percent.
Food and shelter costs were the primary drivers of inflation, with three-quarters of the price increases attributed to these categories. Grocery prices rose 0.4 percent in September, bringing the annual increase to 2.3 percent. Shelter costs, while rising at a slower pace than in previous months, remain up 4.9 percent compared to last year.
With no immediate relief in sight, consumers are feeling the pinch as the cost of everyday essentials continues to rise, further complicating the outlook for economic recovery.
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