Consumer prices rose in September as the Federal Reserve prepared to cut interest rates and ease off the brakes of the U.S. economy.
The consumer price index (CPI), a closely watched gauge of inflation, rose 0.2 percent in September and 2.4 percent over the previous 12 months, the Bureau of Labor Statistics (BLS) announced Thursday.
Economists expected prices to rise 0.1 percent in September and 2.3 percent annually, according to consensus estimates, down from 2.5 percent in August.
The new inflation data comes less than a month before the election, in which Vice President Harris is attempting to overcome former President Trump’s edge on the economy with voters.
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