Sunday, May 28, 2023

Inflation in the US remains high, reaching 8.2% in September, higher than expected

(CNN)– Data from the Bureau of Labor Statistics (BLS) shows that despite a drop in gasoline prices and unprecedented action by the Federal Reserve to control inflation, consumers in the United States continue to face higher prices. Its abbreviation in English) was published this Thursday.

According to the Consumer Price Index, annual inflation increased by 8.2% in September, lower than the 8.3% increase recorded in August. This indicator measures changes in the prices of a basket of consumer goods and services. Economists predicted the rate of growth would slow to 8.1% last month.

Inflation in the us remains high, reaching 8. 2% in september, higher than expected

On a monthly basis, headline consumer prices rose 0.4% from August, more than double what economists forecast at 0.2%.

The core consumer price index, which excludes volatile food and energy categories, posted 6.6% year-on-year growth in September. This is a new record this year and a level not seen since August 1982.

It also showed that prices rose 0.6% in September on a monthly basis, matching the August figure, which surprised investors and caused a market crash, as fears grew over persistent inflation. Will still prompt action. The Fed’s more aggressive.

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The Federal Reserve raised its benchmark interest rate five times this year as part of a plan to help the economy by bolstering consumer and business demand.

Dow futures fell more than 400 points, or 1.5%, after the release of inflation data. Meanwhile, S&P 500 futures fell 1.8% and Nasdaq futures fell 2.6%.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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