The consumer inflation rate in the United States continued to decline, reaching 8.2% in September. This is down from 8.3% in August and 8.5% in July. However, the inflation rate is far too high to prevent the Fed from continuing to raise interest rates to bring the inflation rate back to the 2% target.
Inflation excluding food and energy has increased by 6.6% over the past 12 months. Food inflation has increased by 11.2% over the past year while energy by 10.8%.