Inflation rises 5.4%, matching 13-year high

The unexpected burst of inflation reflects sharply higher prices for food and energy, among other goods and services.

By

National News

October 13, 2021 - 10:21 AM

Photo by Pixabay.com

WASHINGTON (AP) — Consumer prices rose 0.4% last month, slightly higher than August’s gain and pushing annual inflation back to the highest increase in 13 years. 

The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August’s gain of 5.3% and matching the increases in June and July, which were the highest since 2008. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June. 

The unexpected burst of inflation this year reflects sharply higher prices for food and energy, but also new and used cars, hotel rooms, clothing, and furniture, among other goods and services. COVID-19 has shut down factories in Asia and slowed U.S. port operations, leaving container ships anchored at sea and consumers and businesses paying more for goods that don’t arrive for months. 

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