Consumer prices rose 3.7% over the year ending in September.
Consumer prices rose 3.7% in September compared to a year ago, holding steady from the previous month and running hotter than economists had expected.
The stubbornness of the price hike data held true for a separate key metric, core inflation, which strips out volatile food and energy prices. Consumer prices increased a significant 0.4% in September compared to the previous month, a marked slowdown from the month-over-month inflation rate in August, according to the data released on Thursday by the Bureau of Labor Statistics.
The good economic news may pose a difficulty for the Federal Reserve, however, as it tries to cool the economy and slow down price increases.
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