Inflation rate at 2.4% in September, topping expectations; jobless claims highest since August 2023
Source: CNBC
Published Thu, Oct 10 2024 8:32 AM EDT Updated 11 Min Ago
The pace of price increases over the past year took was higher than forecast in September while jobless claims posted an unexpected jump, the Labor Department reported Thursday.
The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.4%. Both readings were 0.1 percentage point above the Dow Jones consensus.
The annual inflation rate was 0.1 percentage point lower than August and is the lowest since February 2021.
Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast.
Read more: https://www.cnbc.com/2024/10/10/cpi-inflation-september-2024.html
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8:32 AM · Oct 10, 2024
Article updated.
Previous articles/headline -
Published Thu, Oct 10 2024 8:32 AM EDT Updated 7 Min Ago
The pace of price increases over the past year took an unexpected step higher in September as policymakers contemplate their next move on interest rates, according to a Labor Department report Thursday.
The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.4%. Both readings were 0.1 percentage point above the Dow Jones consensus.
Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast.
Much of the inflation increase -- more than three-quarter of the move higher -- came from a 0.4% jump in food prices and a 0.2% gain in shelter costs, the Bureau of Labor Statistics said in the release. That offset a 1.9% fall in energy prices.
The pace of price increases over the past year took an unexpected step higher in September as policymakers contemplate their next move on interest rates, according to a Labor Department report Thursday.
The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased 0.2% for the month, putting the annual inflation rate at 2.4%. Both readings were 0.1 percentage point above the Dow Jones consensus.
Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast.
This is breaking news. Please check back for updates.
Original article -
The consumer price index was expected to show a 0.1% increase in September and a 2.3% gain from a year ago, according to Dow Jones consensus estimates.
This is breaking news. Please check back for updates.
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for the first time in what has to have been over a decade or more here in Philly, I saw my first "below $3/gal gas" with 2 stations advertising $2.89 for regular (most of the rest of the stations were running about $3.19 nearby). It was pleasantly shocking to say the least. 