Annual Inflation Rose 3.7% in September
Summary from the AllSides News Team
In September, the annual inflation rate rose to 3.7% and the Consumer Price Index (CPI) rose 0.4% from August, according to the Department of Labor.
Key Details: The rise in inflation, which was higher than economists predicted, resulted from a jump in housing and food costs.
Key Quote: “The Fed can for sure claim progress on inflation,” said Lara Rhame, chief U.S. economist at FS Investments. “But they definitely can’t claim victory.”
For Context: While inflation and demand have proven resilient, there continues to be a debate about whether the Federal Reserve should continue hiking interest rates. The Federal Reserve, saying there had been progress in September, left interest rates unchanged last month.
How the Media Covered it: Sources on the right focused on how the increase in the inflation rate was more than expected. Sources on the left noted a gradual consumer price slowdown and suggested inflation is leveling off as a result.
Featured Coverage of this Story
From the Center
Inflation Stable in September, Underlying Price Gains Stay Modest
Inflation held steady in September but underlying gains were subdued, providing the Federal Reserve evidence that price pressures are slowly abating despite signs of continued strength in the labor market.
Prices rose at a 0.4% pace in September from the prior month and 3.7% from a year earlier, the Labor Department said Thursday. The monthly gain represents a cooling from August’s 0.6% increase, which was driven by higher energy prices. The 12-month rate was the same as in August.
When excluding volatile food and energy items, so-called core prices increased 0.3% in September, the...
From the Left
Inflation leveled off at 3.7% in September, continuing a gradual consumer price slowdown
Inflation leveled off to 3.7% in September compared to a year ago, extending a gradual slowdown in consumer prices, even as it slowed to 0.4% from 0.6% in August.
The Bureau of Labor Statistics released its latest round of price data Thursday morning. Experts had expected it to show that overall prices for consumers rose 3.6% from a year ago, and by 0.2% compared to August.
Meanwhile, core inflation — a measurement of cost increases that excludes energy and food prices because of their volatility — is up 4.1% from September last year, in line...
From the Right
Inflation rises more than expected in September as high prices persist
Inflation rose more than expected in September thanks to a jump in food and housing costs, underscoring the challenge of taming price pressures within the economy.
The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in September from the previous month, more than expected.
Prices climbed 3.7% from the same time last year, matching the August reading and coming in slightly higher than the 3.6% projected by Refinitiv economists.
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