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US consumer price growth expected to have slowed slightly in September

The US consumer price index is expected to have risen at only a slightly slower pace last month, cementing criticism that the Biden administration has failed to meaningfully bring down inflation before the November midterm elections.

According to economists polled by Reuters, CPI is forecast to have increased by 8.1 per cent in September compared to the same month last year, just below the 8.3 per cent annual rise recorded in August.

The core CPI measure, which strips out volatile energy and food costs, is forecast to have risen by 6.5 per cent last month, faster than the 6.3 per cent rate in August, a sign that underlying inflationary pressures were still accelerating.

The persistence of high inflation has been a huge political headache for the White House and congressional Democrats, overshadowing a swift recovery out of the coronavirus pandemic with millions of jobs created since Joe Biden took office.

Senior White House…

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