OAN Newsroom
UPDATED 12:20 AM PT – Thursday, October 13, 2022
The consumer price index report for September is out and it is showing that inflation is up 8.2% from a year ago.
On Thursday morning, the Labor Department released the Consumer Price Index (CPI) report for September. Economists were expecting 8.1% year over year, but the results showed differently.
The CPI measures a range of prices for a typical basket of goods, and the latest report showed that inflation remains near its highest levels in more than 40 years.
Core inflation, which excludes food and energy prices, has increased by 0.6% from August. The Federal Reserve has taken an aggressive approach to raising interest rates to combat inflation. Inflation has enlarged grocery bills, rent and utility costs, and other expenses for citizens.
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