Summary
U.S. inflation increased to 3% in September, marking the first time it reached this level since January. This rise was slightly less than what analysts predicted and comes as the Federal Reserve considers its next steps on interest rates. The report is significant as it's the first major economic data released after a government shutdown.
Key Facts
- U.S. inflation rose to 3% in September, up from 2.9% in August.
- Analysts expected a 3.1% increase, so the actual figure was slightly lower.
- This report is the first major economic data released since a government shutdown earlier this month.
- The Federal Reserve is deciding whether to cut interest rates again soon.
- From August to September, consumer prices increased by 0.3%.
- Many businesses are not fully passing tariffs' costs to consumers, keeping price increases moderate.
- Furniture prices went up by 3.8% over the past year, with a 0.9% increase from August to September.
- Costs for beef and coffee have significantly increased, with beef up 14% and coffee almost 19% since September 2024.
