Inflation Tops Market Estimates as Food, Shelter Costs Rise in September

Core inflation unexpectedly jumps.

A shopper makes her way through a grocery store in Miami on July 12, 2023. Joe Raedle/Getty Images

Inflation came in slightly higher than economists’ expectations as food and shelter costs rose in September.

According to the Bureau of Labor Statistics, the annual inflation rate slowed to 2.4 percent last month, down from 2.5 percent in August. This was above the market estimate of 2.3 percent.