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    US inflation sees 5.4% in September, largest since 2008

06:17 14 October 2021 Author :  

The American annual inflation rate was up to a 13-year high of 5.4% in September from 5.3% in August and above market expectations of 5.3%, according to the US Bureau of Labor Statistics on Wednesday.

The figure is the largest annual gain since 2008, with indexes for energy and food contributing to the rise with 24.8% and 4.6% increases, respectively.

Excluding the volatile food and energy components, core inflation rose 0.2% from the previous month.

On a monthly basis, consumer prices were up 0.4%, with the indexes for food and shelter contributing more than half of the monthly rise.

Shipping challenges, raw materials shortages, high commodity prices and rising wages have raised costs for producers.

On rising inflation due to supply-demand mismatches and higher commodity prices, the International Monetary Fund said price pressures are expected to subside next year./aa

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