A report from the U.S. Department of Commerce released Oct. 28 states that prices for most goods rose 6.2% in September versus the same period a year ago.
When excluding food and energy costs, co-called “core prices” rose 5.1% in September compared to last year. The annual increase was 4.9% in August. These prices are often closely monitored by the Federal Reserve, which may soon raise interest rates again in response to the lingering inflation, according the Associated Press.
The news comes one day after the federal government reported that the nation’s economy grew at a 2.6% annual rate during 2022’s third quarter, halting two straight quarters of contraction.
The Department of Commerce said the gains were driven mostly by increased exports and consumer spending.
Related Posts
-
Construction input prices dipped 0.1% in September compared to the previous month but remained 41%…
-
Backlog is once again above the level observed at the start of the pandemic, according…
-
Construction prices rose 2.3% in May compared to the previous month, and construction input prices…
