Inflation drops to lowest pandemic level

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According to the latest& Consumer Price Index (CPI) report& from the Bureau of Labor Statistics, inflation in the United States has slowed to its lowest level since the early months of the pandemic. The CPI for All Urban Consumers rose by 2.4% over the past year, a substantial easing from the higher inflation rates seen over the last two years. September’s monthly increase of 0.2% matches the growth recorded in August and July, indicating a steady, moderate rise in consumer prices.The most significant contributors to the monthly increase in CPI, a vital indicator of inflation that measures the price change for goods and services affecting consumers’ daily lives, were shelter and food, which comprised over 75% of the overall rise. Food prices alone increased by 0.4% in September, with the cost of meats, poultry, fish, and eggs rising sharply by 8.4%. Fruits and vegetables also saw a notable increase of 0.9%. These rises reflect ongoing pressures on household budgets as essential goods continue to grow more expensive.The nonprofit Prosperity Now said the index showed housing prices increased by 0.2%, remaining a major stumbling block for American families seeking security and economic stability. The organization noted that housing costs remain a...

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