Consumer Price Index rises more than expected as Americans pay more for everything amid ongoing inflation The 2.4% increase recorded in September on an annual basis was slightly higher than the 2.3% that was forecast for the index, which is a broad measure of the cost of everyday goods such as groceries, rent and gas.
On a month-over-month basis, things didn’t fare better, with the actual rise of 0.2% over August exceeding the expected increase of 0.1%.
Core inflation also rose 0.3% on a monthly basis, which is higher than the 0.2% expected rise.
Headline consumer prices are now up by more than 20 percent since the Biden-Harris administration took over the White House.
Some of the greatest pressure moving forward could be seen in energy prices as geopolitical uncertainty persists.
As Americans pay more money for everyday necessities such as rent and food, many are struggling to save money.
Motor vehicle insurance rose 1.2%, while apparel climbed 1.1% and airfare rose 3.2%.
https://www.naturalnews.com/2024-10-14-consumer-price-index-rises-amid-ongoing-inflation.html
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