The front page of The Washington Post reported that official economic data show the U.S. inflation rate slightly rose to 3%.

The consumer price index reached its highest level since January.

New data released on Friday showed that inflation accelerated in September, reaching a pace not seen since January, which is the first set of data released during the government shutdown. According to the Bureau of Labor Statistics, the consumer price index for September showed that prices rose at an annual rate of 3%, slightly higher than August's 2.9%, and higher than the post-pandemic low of 2.3% in April. Gasoline prices have declined over the past year, offering some relief to consumers, but they still jumped 4.1% in September, being the biggest factor in the monthly increase of 0.3%.

Core inflation, which excludes food and energy factors, is considered a more stable indicator of underlying pressure, slightly dropped to an annual rate of 3%. This report provides the only official glimpse into the economy during the government shutdown this month, highlighting the ongoing impact of President Donald Trump's tariffs on consumers.

Some of these measures have been in effect since August. Although the 3% increase was slightly below economists' expectations, the report from Friday is the latest indication that inflation has not disappeared and remains stubbornly higher than pre-pandemic levels.

Longer-than-average increases have made the cost of everyday goods and services about 25% higher than pre-pandemic levels. Some categories affected by tariffs, such as clothing and furniture, have seen increases. Other commodity prices also rose, especially food, which increased by 0.2% in September, up 3.1% since last year. However, overall, tariffs cannot fully explain the rise in inflation, according to Joe Brusuelas, chief economist at RSM, as inflation is still primarily driven by a 3.6% annual increase in service prices such as housing, fuel, and utilities.

Although housing price inflation slowed in September, it still rose 3.6% this year. Michael Pears, vice chief economist for the United States at Oxford Economics, stated in a research report that the September consumer price increase was lower than expected, paving the way for the Federal Reserve to cut interest rates at its policy meeting next week.

Original: www.toutiao.com/article/1847021983167564/

Statement: This article represents the views of the author.