Consumer price inflation slows in September

(CNN) — Price increases have slowed considerably from their peak two years ago and are now rising at a similar pace to inflation in 2017 and 2018, according to new inflation data released Thursday.

The Consumer Price Index, which measures price changes across commonly purchased goods and services, was 2.4% for the 12 months ended in September, slowing from a 2.5% annual rate in August , according to the latest Bureau of Labor Statistics report.

That’s less of a slowdown than economists were expecting. The FactSet consensus estimates were for a 2.3% rise.

On a monthly basis, prices rose 0.2%, in line with the advance in August.

Economists were anticipating that inflation would continue to slow as factors pushing prices higher during the pandemic have largely faded while demand has slowed to more normal levels.

This story is developing and will be updated.

The-CNN-Wire

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