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Major federal economy tracker shows inflation rose higher than expected in September

Year-over-year prices up nearly 10%.

Published: October 12, 2022 3:13pm

Updated: October 12, 2022 3:23pm

Inflation in the United States rose faster than expected in September, a grim sign for U.S. consumers even as aggressive Federal Reserve efforts to tamp down inflation rates continue to pinch the economy elsewhere. 

The U.S. Bureau of Labor Statistics said in a news release on Wednesday that its Consumer Price Index—long a bellwether for U.S. economic vitality—"increased 0.4 percent" in September, excluding food and energy. 

Food itself jumped notably, the BLS said in its report, with prices rising 1.2% month-over-month after declining in both August and September. 

That rise itself was heavily concentrated in fresh food, the bureau said. "A major factor in the September increase in prices for final demand goods was a 15.7-percent advance in the index for fresh and dry vegetables," the report declares.

"Prices for diesel fuel, residential natural gas, chicken eggs, home heating oil, and pork also moved higher," the agency said.

The price rises come after several months of proactive attempts by the Federal Reserve to lower inflation by rising interest rates, a move that has stifled U.S. housing activity and raised fears of a potential recession as early as the first quarter of 2023. 

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