The cost of living got even more expensive for Americans last month, with prices rising at the fastest pace since the start of the year.
Consumer prices rose 0.3% in September, which drove the annual rate of inflation from 2.9% to 3%, the highest it’s been since January, according to Bureau of Labor Statistics data released Friday.
Economists were expecting that inflation would continue to pick up speed, rising 0.4% for the month and 3.1% from the year before, according to FactSet estimates.
Friday’s inflation data is a disconcerting reminder that prices are still rising faster than they typically should. However, the report is somewhat unique in its own right: It’s the first major federal economic report released since the US government shut down on October 1.
The September CPI, which was originally scheduled for release on October 15, is being belatedly published so that the government can meet deadlines to make cost of living adjustments for 2026 Social Security payments.
This story is developing and will be updated.
