WASHINGTON— The Consumer Price Index in September increased a seasonally adjusted 0.2%, putting the annual inflation rate at 2.4%, the Bureau of Labor Statistics reported.
Over the last 12 months, the all items index increased 2.4% before seasonal adjustment. The index for shelter rose 0.2% in September, and the index for food increased 0.4%.
“Together, these two indexes contributed over 75% of the monthly all items increase,” the Bureau said.
"September's inflation data indicate continued price easing,” said America's Credit Unions Senior Economist Dawit Kebede. “The headline monthly Consumer Price Index rose at an annualized rate of 2.4% over the past three months, historically consistent with the Fed's 2% inflation goal of its preferred inflation measure, the Personal Consumption Expenditures. This supports the case that monetary policy does not need to stay in restrictive territory, making it more likely that rates will come down by another 50 basis points before the end of the year as previously announced."