A closely watched report on US inflation showed consumer price increases ticked lower on an annual basis during the month of September but “core” prices remained sticky, according to the latest data from the Bureau of Labor Statistics released Thursday morning.
The Consumer Price Index (CPI) increased 2.4% over the prior year in September, a slight deceleration compared to August’s 2.5% annual gain in prices. The yearly increase, which was the lowest annual headline reading since Feb. 2021, came in hotter than economist expectations of a 2.3% annual increase.
The index rose 0.2% over the previous month, matching the increase seen in August and also hotter than economist estimates of a 0.1% uptick.
On a “core” basis, which strips out the more volatile costs of food and gas, prices in September climbed 0.3% over the prior month, stronger than the 0.2% uptick economists had expected, and…
