US Inflation Returns to 13-Year High in September

Source: US Bureau of Labor Statistics

Inflation in the United States posted a slight acceleration in September to match the 13-year high recorded in the previous months, due to higher prices of food and shelter.

• The Consumer Price Index (CPI) grew 0.4% in September from 0.3% in August, while annual inflation clocked in at 5.4%.
• The annual inflation follows the 5.3% in August, and matches the reading in June and July, the highest since 2008.
• The food index climbed 4.6% annually 0.9% from the previous month, with food at home up 1.2% and food away from home up by 0.5%.
• Shelter prices increased by 3.2% annually, and 0.4% from the previous month.
• Food and shelter prices contributed over half of the monthly all items seasonally adjusted increase.
• Month-on-month core inflation stood at 0.2%, and annual core inflation at 4.0%.
• Aside from shelter, indexes for new vehicles, household, furnishings and operations, and motor vehicle insurance.
• Indexes for airline fares, apparel, and used cars and trucks all posted declines for the month.