Consumer prices rose less than expected in September, government data showed Friday, clearing the path for further rate cuts from the Federal Reserve and suggesting that tariffs are not weighing on household budgets.
The consumer price index increased 0.3 percent last month, down from the 0.4 percent in August. Economists had forecast a 0.4 percent increase.
Compared with a year ago, consumer prices are up 3.0 percent, slightly below the 3.1 percent forecast.
Core prices, a metric that excludes food and energy prices, rose 0.2 percent, below the estimate for 0.3 percent. Over the past 12 months, core prices are up 3.0 percent.
Food inflation, which soared in August, cooled in September. The index for grocery prices climbed 0.3 percent over the month, down from
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