U.S. consumer prices increased 0.6% in September on a seasonally adjusted basis, up from a 0.4% monthly increase in August, the Bureau of Labor Statistics reported on October 14. The overall index was 3.7% higher than a year earlier, compared with 3.4% annual inflation in August.
Gasoline was the largest driver. The gasoline index rose 9.1% during September and accounted for more than half of the monthly increase in the overall index. The broader energy index rose 5.2%, shelter increased 0.4%, and food prices were unchanged for the month.
The index excluding food and energy rose 0.3% for the month and 2.6% from a year earlier. Reuters reported that economists it surveyed had expected annual inflation of 3.6%, slightly below the official result.