Saturday, December 2, 2023

Remained at 3.7% in September

The annual inflation rate in the US (USA) In September, it repeated the same increase as in August, which was 3.7%, ending the two consecutive increases registered in the two previous months, according to the Bureau of Labor Statistics of the Department of Labor of the country .

Housing prices alone explained half of the rise in inflation recorded in the US in September, rising 7.2%, while fuel prices also weighed on the data, with an increase of 3%. .

Food also registered an increase of 3.7%, compared to energy, which overall fell 0.5%, mainly due to a 19.9% ​​decrease in piped gas services.

For its part, the underlying inflation rate, which excludes the impact of food and energy price fluctuations, reached 4.1%, two tenths lower than in August. However, the monthly reading registered the same figure as August, 0.3%.

On the other hand, the Department of Labor of the United States reported that the initial requests for unemployment benefits reached 209,000 applications, which means to keep the number unchanged compared to last week.

Likewise, the number of people receiving a type of unemployment benefit stood at 1,702,000 at the end of September, representing a weekly increase of 30,000 beneficiaries.

Although the growth of inflation in the last two months has been restrained, the figure is more than 2%, the goal of the Federal Reserve. For this reason, the Fed suggests that it will raise interest rates again in the next meetings this year, with the goal of reducing the CPI below 2%.

World Nation News Desk
World Nation News Desk
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