Inflation rose less than expected in September, the U.S. belatedly reports
Summary
Inflation in the U.S. increased by 3.0% in September compared to the previous year, slightly less than what experts expected. The report, delayed due to a government shutdown, may lead to another interest rate cut by the Federal Reserve. The data is also used to calculate cost-of-living adjustments for Social Security.Key Facts
- U.S. inflation rose 3.0% in September from the previous year.
- Inflation on a monthly basis increased by 0.3%.
- The report was published nine days late due to a government shutdown.
- The Federal Reserve may cut interest rates again following this report.
- Many other government economic reports are on hold due to the shutdown.
- A group of BLS workers was brought back to release the inflation report.
- The inflation data helps calculate next year's Social Security cost-of-living adjustment.
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