In September, inflation in the North American country rose 0.4%.
The Bureau of Labor Statistics of the United States Department of Labor has reported this Thursday that the consumer price index, which measures inflation, has reached 8.2% on an annual level.
The year-on-year figure turned out to be higher than expected Refinitiv economists, who forecast inflation of 8.1% and a monthly increase of 0.2%. The data presented is a worrying signal for the Federal Reserve, which plans to continue raising interest rates aggressively. What contributed the most to the monthly increase in prices were the housing, food and medical care sectors.
The growth of core inflation by 0.6% from August to September and by 6.6% over the over the last 12 months shows that the five interest rate hikes by the Federal Reserve this year have not had much effect in cooling inflationary pressures.
The year-on-year increase in core inflation, q ue tends to offer a clearer picture of underlying price trends, it is also the highest in the last 40 years.
Inflation has already taken its toll on bills of Americans' food, rent and utility costs, compounding pessimism about the economy, despite strong job growth and a historically low unemployment rate. Prices are rising even as some of the supply chain problems plaguing many manufacturers are disappearing.