Inflation rate hit 3.0% in September, lower than expected, long-awaited CPI report shows
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YouTubeCNBC Television
Inflation rate hit 3.0% in September, lower than expected, long-awaited CPI report shows
Prices that people pay for a variety of goods and services rose less than expected in September, according to a Bureau of Labor Statistics report Friday. The consumer price index showed a 0.3% increase on the month, putting the annual inflation rate at 3%. Economists surveyed by Dow Jones had been looking for respective readings of 0.4% and 3.1%.
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Federal Reserve Chair Jerome Powell said Wednesday that inflation has moved up since earlier in the year and remains somewhat elevated, as the central bank cut interest rates by a quarter point. Read more: cnb.cx/4p3yb99 | CNBC
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