Inflation rises 5.4 percent from year ago, matching 13-year high
WASHINGTON (AP) — Consumer prices rose 0.4 percent 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 percent in September from a year ago, the Labor Department said Wednesday, up slightly from August’s gain of 5.3 percent 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 percent in September and 4 percent compared with a year ago. Core prices hit a three-decade high of 4.5 percent 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…
