Annual inflation in US remains at 3.7%

The consumer price index (CPI) in the US in September increased by 3.7% year on year, Report informs referring to the Department of Labor.

Thus, annual inflation remained at the same level as in August. At the same time, analysts surveyed by Refinitiv expected annual inflation to fall slightly in September to 3.6%.

At the same time, the price level increased by only 0.4% compared to August. The inflation rate has decreased - in August the figure was 0.6%. However, as was the case with annual growth, the actual figure was higher than the consensus forecast of 0.3%.

The largest contribution to the growth of CPI was made by housing rental prices. They account for half the monthly growth of the index. The second most important factor in the growth of the price index was the rise in fuel prices.

Annual food inflation was at the lowest level since March 2021 and for the first time since the beginning of 2022 did not exceed the overall CPI indicator.