Consumer prices jumped more than expected last month, with food, rent and furniture costs surging as a limited supply of housing and a shortage of goods tied to supply chain troubles combined to fuel rapid inflation. The Consumer Price Index climbed 5.4 percent in September when compared with the prior year, more than expected in a Bloomberg survey of economists and faster than its 5.3 percent increase through August. The data raise the stakes for both the Federal Reserve and the White House, which are now facing a much longer period of rapid inflation than they had expected. From August to September, the index rose 0.4 percent, also above expectations. Monthly price gains have slowed […]

Posted in: USA