US inflation falls to 2.4% in September

Annual rate eases less than expected

The annual rate of US inflation fell to 2.4% in September, its lowest 12-month increase since February 2021.

September's headline Consumer Price Index figure stood below August's 2.5% reading, but still came in slightly hotter than economists' expectations of 2.3%.  The annual rate of core inflation, which excludes the more volatile food and energy items, rose faster than expected to 3.3%, according to the US Bureau of Labor Statistics. Energy prices fell 6.8% in the year to September, while food inflation increased 2.3% over the last year. On a monthly basis, inflation held up at 0.2% for September, the same figure as the previous two months, driven by increases in food and shelter inflatio...