The US consumer price index rose at a pace of 8.2 per cent last month compared to September 2021, in new data likely to cement perceptions that Washington has failed to bring down inflation before November’s midterm elections.
According to the Bureau of Labor Statistics, the increase in the CPI last month was little changed from the 8.3 per cent annual rise recorded in August — and will increase pressure on the Federal Reserve to proceed with aggressive monetary tightening.
The core CPI measure, which strips out volatile energy and food costs, rose by 6.6 per cent on an annual basis last month, faster than the 6.3 per cent rate in August, a sign that underlying inflationary pressures were still accelerating.
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