Prices that people pay for a variety of goods and services rose less than expected in September, according to a Bureau of Labor Statistics report Friday that keeps the door wide open for another interest rate cut next week.
The consumer price index showed a 0.3 increase on the month, putting the annual inflation rate at 3. Economists surveyed by Dow Jones had been looking for respective readings of 0.4 and 3.1. The annual rate reflected a 0.1 percentage point uptick from August.
Excluding food and energy, core CPI showed a 0.2 monthly gain and an annual rate also at 3, compared to respective estimates of 0.3 and 3.1, the latter being unchanged from a month ago. Core CPI on a monthly basis had posted 0.3 gains in both July and August.