U.S. Inflation Up 5.4 Percent Highest Rate Since 2008 As Supply Chain Issues Persist
The Labor Department said Wednesday that the annual increase in the consumer price index was the highest in 13 years, matching the readings in June and July. Core inflation rose 0.2 percent in September and 4 percent compared with a year ago, when excluding the volatile food and energy categories. Core prices hit a 30-year high of 4.5 percent in June. Economist Kathy Bostjanicic at the consulting firm Oxford Economics said it’s expected that inflation will remain high due to global supply chain complications into next year....