In September, consumer prices unexpectedly rose by 0.2%, resulting in an annual rate increase of 2.4%.

In September, the pace of price increases over the past year unexpectedly increased, as policymakers considered their next move on interest rates, according to a Labor Department report.

The CPI, a comprehensive indicator of the cost of goods and services in the US economy, rose 0.2% in the month, resulting in an annual inflation rate of 2.4%. This was 0.1 percentage point higher than the Dow Jones consensus.

The annual rate of core price increases is now 3.3%, which is 0.1 percentage point higher than the forecast, despite core prices only increasing by 0.3% on a monthly basis.

Nearly 80% of the inflation increase was due to a 0.4% increase in food prices and a 0.2% increase in shelter costs, while energy prices fell by 1.9%, according to the Bureau of Labor Statistics.

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