Inflation remains above the Federal Reserve’s 2 percent target suggesting interest rates could remain high for a while.
Housing and gasoline are getting more costly, data from the U.S. Bureau of Labor Statistics indicate.
Consumer prices rose slightly overall in September, the BLS said Thursday, led by a jump in housing costs and gas prices for the month, but for the year those numbers remained unchanged ahead of a key Federal Reserve meeting in November that will decide whether to raise interest rates.
For September, consumer prices increased by 0.4 percent, an uptick from the 0.3 percent analysts expected. For the year to September, prices jumped 3.7 percent, the same as in August.
„The index for shelter was the largest contributor to the monthly all items increase, accounting for over half of the increase.
