Forbes: Inflation Spiked 8.2% In September in 'Nightmare Scenario' For Fed
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Article by Jonathan Ponciano in Forbes
As the threat of prolonged inflation threatens additional rate hikes tanking sectors of the market, consumer prices rose 8.2% in the 12 months ending in September—slowing down for a third consecutive month, but still climbing more than expected in a worrying sign for the broader economy.
Economists were expecting prices to rise 8.1% year over year after they spiked 8.3% in August.
Overall prices were up 0.4% on a month-to-month basis—exceeding economist expectations of 0.3% and up from 0.1% in August.
Increases in rent, food and medical care prices were the biggest contributors to the overall spike, which was offset by a 4.9% decline in gas prices.
Core inflation, which ......
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