Inflation has weakened to its slowest pace in nearly three years, reflecting a decline from the exceptionally high levels experienced over the past two years. The consumer price index (CPI) rose at an annual rate of 2.4% in September, just above expectations, and down from 2.5% in August. This slowdown comes amidst an ongoing presidential election campaign where cost of living concerns are paramount. The core index, excluding food and energy, increased 3.3%, indicating persistent price pressures in key areas.
While gasoline prices fell by 4.1% over the month and 15.3% year-on-year, housing and food costs continue to rise, which collectively account for over 75% of the overall increase in consumer prices. For example, food prices increased by 0.4%, with some specific items like eggs soaring by 8.4%. This rise in shelter and food costs remains a significant challenge, highlighting the mixed signals in the economy even as overall inflation rates show improvement.
Collection
[
|
...
]