Inflation rises 2.4% in September, above expectations

Published On Oct 10, 2024, 8:32 AM

In September, the Consumer Price Index (CPI) rose by 2.4% year-over-year, slightly above economists' expectations of 2.3%. Month-to-month, prices increased by 0.2%. Core inflation, which excludes food and energy prices, was up 3.3% year-over-year and 0.3% from the previous month, again slightly exceeding forecasts. The report indicates that while inflationary pressures are easing, they remain above the Federal Reserve's target of 2%, with significant increases in shelter and motor vehicle insurance costs contributing to the inflation rise.