Inflation rises 2.4% in September, above expectations

Inflation continued to cool in September to the lowest level in three years, though the report came in slightly hotter than expected.

The Labor Department on Thursday said the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% in September from the prior month and was up 2.4% from a year ago. 

Economists predicted that inflation would slow to 2.3% on an annual basis with it rising 0.1% from last month, according to estimates by economists surveyed by LSEG.