A key US inflation gauge stayed at a high 6.2% in September
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily
WASHINGTON (AP) — A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Friday's report from the Commerce Department showed that prices rose 6.2% in September from 12 months earlier, the same year-over-year rate as in August.
Excluding volatile food and energy costs, so-called core prices rose 5.1% last month from a year earlier. That's also faster than the 4.9% annual increase in August, though below a four-decade high of 5.4% reached in February.
The report also showed that consumers spent more last month, even after adjusting for inflation, a sign of Americans' willingness to keep spending in the face of high prices. Consumer spending increased 0.6% from August to September, or 0.3% after accounting for price increases.
