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U.S. inflation as measured by the change in the Consumer Price Index (CPI), held steady at 3.7 percent on an annual basis in September, the same pace as in August, according to U.S. Bureau of Labor Statistics (BLS) reported on Thursday.
The report also underlined inflation declined a bit: so-called core prices, which exclude volatile food and energy costs, climbed 4.1 percent in September from 12 months earlier, down from a 4.3 per cent year-on-year pace in August.
It is worth mentioning that economists and Fed officials have long cautioned that inflation would likely ease in a bumpy and uneven way, though it is still expected to keep slowing into 2024.
