Inflation in the United States decreased yet again its year-over-year price inflation index. Prices during the month of September 2022 saw an inflation rate of 8.2%. This, in comparison to August 2022’s inflation rate, represents a minor increase, given how inflation for that month reached 8.3%.
September’s inflation rates represent the third fall in consumer prices when compared at a year-over-year rate. It is worth noting that the consumer price index for all items, disregarding food and energy which are the most volatile categories, incremented by 6.6%. As for the energy index alone, a 4% smaller increase was seen in its inflation rate, compared to that of August 2022. Meanwhile, food inflation rates reached 11.2%, the same as August 2022’s viewed changes in year-over-year prices.
Current inflation rates were mainly offset by increases in food, housing, and medical prices. Despite having met a fall in consumer price index rates, inflation is still far-fetched from the known Federal Reserve’s 2% inflation goal. Hence, it is reasonable to expect more increments in interest rates during the following months.