Inflation Remained High in September

U.S. inflation accelerated slightly in September, as pandemic-related shortages of labor and materials continued to push up prices.

The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—rose a seasonally adjusted 0.4% in September from August. That is faster than in August but down markedly from June’s 0.9% pace.

On an annual basis, inflation picked up, with CPI rising 5.4% in September from a year earlier, in unadjusted terms, a slight uptick from August and the same rate as in June and July, which was the highest since 2008. The so-called core price index, which excludes the often-volatile categories of food and energy, in September climbed 4% from a year earlier, the same rate as in August.

With food markets on a wild ride lately, cheese has seen more volatility than most. Yet in supermarkets, prices have remained relatively stable. Here’s why sharp changes in wholesale cheese prices are slow to make it to consumers. Illustration: Jacob Reynolds

Higher inflation will trigger a 5.9% increase for Social Security benefits that seniors and other Americans receive, the largest increase in nearly 40 years. The Social Security Administration will release its annual cost-of-living adjustment later on Wednesday.

Prices for groceries, gasoline and heating fuels rose along with the cost of new vehicles, rent and furniture. Prices fell for used autos, airline fares and apparel.