Consumer prices rose just 2.4% in September from a year earlier, down from 2.5% in August, and the smallest annual rise since February 2021.
FILE - A shopper considers large-screen televisions on display in a Costco warehouse Oct. 3, 2024, in Timnath, Colo. Measured from month to month, prices increased 0.2% from August to September, theBut excluding volatile food and energy costs, “core” prices, a gauge of underlying inflation, remained elevated in September, driven higher by rising costs for medical care, clothing, auto insurance and airline fares. Core prices in September were up 3.3% from a year earlier and 0.3% from August.
Restaurant food prices increased 0.3% last month and are up 3.9% in the past year. And clothing prices rose 1.1% from August to September and are up 1.8% from a year ago.released last week, which showed that hiring accelerated in September and that the unemployment rate dropped from 4.2% to 4.1%.
In remarks this week, a slew of Fed officials have said they’re still willing to keep cutting their key rate but at a deliberate pace, a signal that any further half-point cuts are unlikely.
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