September's Inflation: A Small Step Back

Prices went up, but not as much as people thought they would. This is what happened in September. The numbers came out late because the government wasn't working. The U. S. Bureau of Labor Statistics said prices were 3. 0% higher than last year. That's a bit less than what experts guessed. It's also a tiny bit lower than the increase in August. This news makes it more likely that the Federal Reserve will lower interest rates. They might do this at their next meeting. But the Fed doesn't have all the data it needs. Most government reports weren't made because of the shutdown.A small team at the Bureau of Labor Statistics worked hard to get the inflation report out. It was supposed to come out on October 15th. This report is important. It helps figure out how much Social Security payments will go up next year. Social Security payments will increase by 2. 8% next year. That's about $56 more each month. This increase is more than this year's, but less than the average over the last ten years. Prices for imported goods are still going up because of tariffs. But other things, like housing, are not going up as fast. The prices for goods and services were checked in September to make this report.