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U.S. inflation stays high during September amidst supply chain disruptions

Oct 14, 2021 (MENAFN via COMTEX) --

(MENAFN) On Wednesday, Oct. 13 the Labor Department said in a report that U.S. inflation stayed high last month as supply chain disturbances have continued for months.

According to the department, the consumer price index (CPI) surged 0.4 percent during September after climbing 0.3 percent in August. During the last 12 months through September, the index jumped 5.4 percent, marginally rising from the 5.3 percent pace for the 12-month period concluding August.

Ruling out the volatile food and energy components, the so-called core CPI surged 0.2 percent in the past month after climbing 0.1 percent during August. During the last 12 months through September, the core CPI increased 4 percent, the same rise as the period concluding August, added the department.

Sarah House, senior economist at Wells Fargo Securities, stated on Wednesday in a note: "overall, we expect to see the run of strong inflation readings continue in the coming months. Oil and natural gas prices have climbed further in recent weeks."
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