By Alicia Wallace, CNN
(CNN) — Inflation rose faster than expected last month, with price pressures extending beyond gasoline, new data showed Wednesday.
The latest Consumer Price Index showed that prices rose 0.6% from August, bringing the annual rate of inflation to 3.7%, up from 3.4%, according to new Bureau of Labor Statistics data.
Economists were expecting CPI to increase 0.6% on a monthly basis and 3.6% annually.
A closely watched gauge of underlying inflation also ran hot last month: Core CPI, which excludes volatile food and energy prices, rose 0.3% from August and 2.6% from a year earlier.
Economists were expecting core inflation to slow to 0.2% and for the annual rate to tick up to 2.5% from a five-year low of 2.4%.
Wednesday’s data could be a troubling sign for the Federal Reserve and could lead policymakers to hike interest rates again if price pressures persist.
This story is developing and will be updated.
The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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