US inflation remains steady at 3.7% in September

Core inflation declines again

US inflation remained stable at 3.7% in September, representing no change from the previous month, as core inflation continued its steady decline.

The Bureau of Labor Statistics reported today (12 October) that core inflation, which excludes food and energy, saw its sixth consecutive month of decline, falling from 4.3% in August to 4.1% last month, its lowest figure since September 2021. Meanwhile, the cost of shelter continued to be a key driver of inflation, rising 0.6% throughout the month and accounting for over half of the increase in prices overall. After the spike in energy prices throughout August, September saw a return to lower levels of monthly energy inflation at 1.5%, compared to 5.6% in the previous month. US in...