Inflation accelerated in September, with consumer price pressures across America showing no sign of easing ahead of the all-important holiday shopping season.
Consumer prices increased 5.4% from the year-ago period, slightly faster than their 5.3% increase the previous month. Core inflation — which strips out volatile food and energy costs — grew 4.0%, the same as in August.
The price index rose for new vehicles, car insurance and home furnishings, while slowing for airline fares, apparel and used cars and trucks.
It’s the fastest rate of inflation in 13 years, matching the pace.
This is a developing story.