Inflation & Prices
US Consumer Prices Rise at Brisk Pace for Second Straight Month
- Core CPI up 0.3% in September, headline gauge advances 0.4%
- Data underscore Fed intent to keep rates high, curb inflation
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US consumer prices advanced at a brisk pace for a second month, reinforcing the Federal Reserve’s intent to keep interest rates high and bring down inflation.
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% in September, Bureau of Labor Statistics data showed Thursday. Economists favor the core gauge as a better indicator of underlying inflation than the overall CPI. That measure climbed 0.4%, boosted by energy costs.