Consumer prices rise 5.4% on the year, highest inflation in 13 years

Consumer prices rose 5.4% for the year ending September, according to a report by the Department of Labor released Wednesday, the highest pace of inflation since 2008.
Forecasters had expected a 5.3% increase.
GOLDMAN SACHS SLASHES GROWTH FORECAST FOR 2021 AND 2022
The news comes as inflation fears percolate among some economists who worry that the rising prices are not just transitory, as the Federal Reserve contends.
The Fed has maintained interest rates at near-zero since the start of the pandemic, a stance which has gained plaudits from some economists but has caused others to fear that the central bank may be contributing to inflationary pressure.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
The most recent jobs report was a major letdown. The economy added just 194,000 new jobs …

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Send this to a friend