September brought little relief to the accelerating cost of living, as consumer prices increased again and kept the inflation rate well above the Federal Reserve’s goal.
The consumer price index, a broad measure of goods and services costs across the U.S. economy, rose a seasonally adjusted 0.6% for the month, putting the 12-month rate at 3.7%, the Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones expected respective gains of 0.6% and 3.6%.
Stripping out volatile food and energy costs, so-called core CPI rose 0.3% for the month and was up 2.6% on an annual basis, compared to respective estimates for 0.2% and 2.5%.
Surging energy costs were again the primary culprit in the inflation picture. The energy index jumped 5.2% as tensions continued between the U.S. and Iran in a war launched in late February that shows no signs of ending anytime soon.
Gasoline prices soared 9.1%, accounting for about half the gain in headline CPI, according to the BLS. Over the past year, gas has posted a 34.2% gain while fuel oil has roared higher by 74.2%...(our emphasis)
Meanwhile, the corrupt and addled Malignant Fascist and his cronies get fatter and fatter.
Mid-terms, folks!
(Photo: MarketWatch photo illustration/
No comments:
Post a Comment