Economic Outlook Under Biden: CPI Report Points to Pressing Housing Cost Concerns and More
The U.S. annual inflation rate for September remained steady at 3.7%, slightly surpassing the anticipated 3.6%, as the Bureau of Labor Statistics (BLS) reported. Monthly, inflation rose 0.4%, decelerating from August’s 0.6% but still higher than expected. A large portion of the increase can be attributed to the rising costs of shelter, which accounted for more than half of the monthly Consumer Price Index (CPI) surge. Excluding the unpredictable energy and food sectors, core inflation …