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The yearly inflation rate rose to 5.4%, up one-tenth of a percent from the previous month, the Bureau of Labor Statistics reported today.
Most analysts had expected an annual inflation rate of 5.3% in September and the official figure marked the highest level in thirteen years.
Excluding food and fuel prices, which are the most volatile, core inflation in September was 0.2%, for an annual rate of 4%.
Energy prices were up 24.8% in September and food prices were up 4.6%, according to the government report. Prices consumers pay for gasoline rose 1.2% last month and are up 42.1% in a year.
The food and housing price indexes contributed to more than half of the monthly increases.
Inflation is a major concern in the U.S., as it is at levels not seen in more than a decade.
Fifty-five percent of Americans believe Biden has not handled the country’s economy well in a recent poll.
