Annual US consumer inflation at 8.2% in September, slightly easing from 8.3% in August

Annual US consumer inflation at 8.2% in September, slightly easing from 8.3% in August

Core consumer price index, excluding food and energy, rises 6.6% annually – largest gain in more than 40 years

By Ovunc Kutlu

ANKARA (AA) - Annual consumer inflation in the US came in at 8.2% in September, slightly easing from the 8.3% yearly gain in August, according to Labor Department figures released Thursday.

However, the Consumer Price Index (CPI), which measures changes in the prices of goods and services from a consumer's perspective, came in higher than the market estimate of an 8.1% annual increase.

The figure is a sharp decline from the 9.1% yearly gain in June, which was the largest 12-month increase since November 1981.

On a monthly basis, CPI in September rose 0.4% from the previous month, again coming above the market expectation of a 0.2% gain. CPI in August showed an annual gain of 0.1%.

"Increases in the shelter, food, and medical care indexes were the largest of many contributors to the monthly seasonally adjusted all items increase," the Labor Department said in a statement.

These increases, on the other hand, were partly offset by a 4.9% decline in the gasoline index.

"The food index continued to rise, increasing 0.8 percent over the month as the food at home index rose 0.7 percent. The energy index fell 2.1 percent over the month as the gasoline index declined, but the natural gas and electricity indexes increased," the statement said.

Core CPI, which excludes food and energy, gained 0.6% in September from the previous month, again above the market expectation for a 0.5% rise. In August, core CPI also posted a monthly increase of 0.6%.

Annually, core CPI rose 6.6% in September – the largest 12-month increase since August 1982. The figure was above the market estimate of a 6.5% gain, while it rose 6.3% in August year-on-year.

"The shelter index also rose 6.6 percent over the last year, accounting for over 40 percent of the total increase in all items less food and energy," the statement said.

Other indexes with notable increases over the last year include medical care with a 6% gain, new vehicles with a 9.4% increase. They were followed by household furnishings and operations with 9.3% and used cars and trucks with 7.2%.

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