Inflation rose faster than expected in September, squeezing Americans in the form of higher prices for basic necessities like groceries, rent and electricity.
Founder of ‘Michael Lee Strategy’ Michael Lee provides expert analysis of the U.S. economy’s hot inflation report for September and how it's anticipated to impact the markets on ‘Varney & Co.’
Those figures were both higher than the 8.1% headline figure and 0.2% monthly increase forecast by Refinitiv economists, a worrisome sign for the "Food prices continued to soar," said Ben Ayers, Nationwide senior economist, adding that they are a "growing burden for U.S. households."Shelter costs in September, according to the consumer price index released on Oct. 13, 2022. The inflation reading for the month came in hotter than expected.In another worrisome trend that will further squeeze U.S. households, shelter costs — which account for roughly one-third of the CPI — sped up again in September, climbing 0.
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