An inflation gauge showed price increases remained elevated in September amid brisk consumer spending and strong economic growth.
An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth. Friday’s report from the Commerce Department showed that prices rose 0.4% from August to September, the same as the previous month. And compared with 12 months earlier, inflation was unchanged at 3.4%.
9% annual growth rate in the July-September quarter, the best such showing in nearly two years. Heavy spending by consumers typically leads businesses to charge higher prices. In Friday’s report on inflation, the government also said that consumer spending last month jumped a robust 0.7%. Spending on services jumped, Friday's report said, led by greater outlays for international travel, housing and utilities. Excluding volatile food and energy costs, “core” prices rose 0.
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