Here’s the inflation breakdown for September 2023 — in one chart

The consumer price index, a key inflation gauge, rose 3.7% in September, unchanged from August, the U.S. Bureau of Labor Statistics said Thursday.

The consumer price index rose 3.7% in the 12 months through September, unchanged from August, the U.S. Bureau of Labor Statistics said Thursday.The U.S. Federal Reserve aims for a 2% annual inflation rate over the long term. Fed officials don't expect that to happen until 2026."The speed of the decline is always going to be uncertain," said Andrew Hunter, deputy chief U.S. economist at Capital Economics.

"Ultimately, inflation is still the most menacing issue in the economy right now," said Sarah House, senior economist at Wells Fargo Economics. "We're edging our way back , but there's still quite a bit of ground to cover," she added.Gas prices were up 2.1% in September, on a monthly basis — a "major contributor" to inflation last month, BLS said.

Prices have fallen in October, too. The average price per gallon was $3.68 as of October 9, down 15 cents a gallon since Sept. 25, according to theWhen assessing underlying inflation trends, economists generally like to look at a measure that strips out energy and food prices, which tend to be volatile from month to month.expense — has accounted for over 70% of that total increase in core CPI over the past year. Housing inflation increased in September, to its highest monthly rate since May.

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