Inflation edged higher in September amid a jump in gasoline prices and other essentials like electricity, while President Donald Trump’s tariffs put pressure on prices for physical goods like clothing and furniture, economists said.
The consumer price index, a key inflation barometer, rose 3% in September from a year earlier, the Bureau of Labor Statistics reported Friday. That’s an increase from 2.9% in August, but below economists’ expectations.
“Core” commodities — which exclude volatile food and energy prices — also rose 3% in September from a year earlier.
“Inflation is uncomfortably high and is set to accelerate further in the coming months,” said Mark Zandi, chief economist at Moody’s.
The CPI tracks how quickly prices rise or fall for a basket of consumer goods and services, from coffee and bananas to club memberships and concert tickets.
