US inflation rises to 3%, less than expected
Newsflash: US inflation has risen, but not as much as expected, new delayed economic data shows.
The annual US consumer prices index rose to 3% in September, up from 2.9% in August, but lower than the 3.1% which economists had forecast.
That means the cost of living is continuing to rise faster than the Federal Reserve’s 2% target, as the US central bank comes under pressure from the White House to cut interest rates faster.
In September alone, prices rose by 0.3%, a slight slowdown after rising 0.4% in August.
The data, which had been delayed by the ongoing US government shutdown, also shows that gasoline prices rose by 4.1% in September, while food was up 0.2%.
Key events
Closing post
Time to recap.
Stock markets on both sides of the Atlantic have rallied, after a softer-than-expected US inflation report…
