US. Consumer inflation saw to a 40 year high in September as prices continue to rise

Now. The US. Consumer inflation saw a 40-year high in September as prices continue to rise. According to the Labor Department, the core consumer price index, which excludes food and energy, increased six 6% from a year prior. It is the highest level since 99 82 on a monthly basis.

The core retail inflation rose 16 in September, the report stressed how inflation how high inflation has broadened across the economy, eroding Americans' paychecks. It has also forced many to rely on savings and credit cards to keep up. Some key takeaway from the inflation report is our food prices and that has climbed again, weighing on household budgets. In another troubling sign, rent inflation has remained high. Used car prices have not been declining as much as economists had hoped.

Gas prices have fallen slightly. But overall energy costs are soon expected to rise as the inflation report dimmed hopes of easing in lending rates as the Federal Reserve looks on track to extend its interest rate hikes even further than previously anticipated. This is investors hardened bets that the Fed would raise rates by 75 basis points in its meeting next month and in December.