BUSINESS

No Letup On US Inflation

The U.S. continues to see consumer prices rise in the month of September.

This was more than expected and suggests that the country is still in a struggle to tame inflation.

Inflation, the rate at which prices rise, was 8.2% in the 12 months to September, down from 8.3% in August.

Despite the fall, the figure was still higher than forecast and is still at a 40-year high.

Inflation in the U.S. is being closely watched as the U.S. central bank’s efforts to tame the problem push up the dollar and global borrowing costs.

The rate is well above the central bank’s 2% target and means the Federal Reserve is likely to continue to keep raising interest rates in an attempt to cool rising prices.

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Readers Bureau, Contributor

Edited by Jesus Chan

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