Price increases for consumers decelerate in September
The Cost of Living Index, measuring price adjustments in frequently bought items and services, showed a 2.4% increase over the past year until September, slightly decreasing from a 2.5% yearly increase in July, as indicated by the most recent stats from the Bureau of Labor Statistics.
This decrease in pace was less than what economists had predicted. Their expectations were set at a 2.3% increase, based on FactSet surveys.
Prices increased by 0.2% on a monthly basis, matching the growth observed in August.
Economists had believed that inflation would continue to decelerate as significant price drivers from the pandemic have mostly subsided, while consumer demand has returned to conventional speeds.
This situation is evolving and will be updated further.
The decrease in the annual inflation rate from 2.5% in July to 2.4% by September positively impacted the overall economy. Businesses, therefore, forecasted more stable operating costs and potential growth opportunities.
