U.S. inflation data shows consumer prices rose more than expected – National [Video]

U.S. consumer prices rose slightly more than expected in September, but the annual increase in inflation was the smallest in more than three and a half years, potentially keeping the Federal Reserve on track to cut interest rates again next month.

The consumer price index increased 0.2 per cent last month after gaining 0.2 per cent  in August, the Labor Department’s Bureau of Labor Statistics said on Thursday. In the 12 months through September, the CPI climbed 2.4 per cent. That was the smallest year-on-year rise since February 2021 and followed a 2.5 per cent advance in August.

Economists polled by Reuters had forecast the CPI edging up 0.1 per cent and rising 2.3 per cent year-on-year. The annual increase in inflation has slowed from a peak of 9.1 per cent in June 2022.

Together with a significant moderation in the inflation measures tracked by the U.S. central bank for its …