The Consumer Price Index Rose by 3.9% in September
Headline inflation measure shows prices rising at fastest pace in over 10 years
Increase driven by rising costs of food, energy and housing
The Consumer Price Index, the government's main inflation measure, rose by 3.9% in September, according to the Bureau of Labor Statistics. This is the largest 12-month increase since March 2009, and the second straight month of inflation above 3%.
The increase was driven by rising costs of food, energy and housing. The index for food prices rose by 1.2% in September, the largest increase since April. The index for energy prices rose by 0.6%, the largest increase since February. The index for housing prices rose by 0.3%, the largest increase since March.
The increase in inflation is a concern for policymakers, who are worried that it could lead to higher interest rates and slower economic growth. The Federal Reserve has already begun to taper its bond-buying program, which has been a key factor in keeping interest rates low. The Fed is also expected to raise interest rates next year, which could further slow economic growth.
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