The pace of inflation picked up in September, pushing prices up by more than expected, data from the Department of Labor showed Wednesday.
The Consumer Price Index rose 0.4 percent compared with August, pushing the index’s annual gain up to 5.4 percent. A month ago, prices were up 0.3 percent compared with the prior month and 5.3 percent compared with 12-months earlier.
Analysts had forecast the index’s gains to match the August figures, so the actual results were one-tenth of a point worse than expected.
Core CPI, which excludes the volatile categories of food and energy, rose 0.2 percent on a monthly basis, up from 0.1 percent a month earlier. Compared with September of last year, core CPI was up 4 percent. – READ MORE