US inflation falls but remains higher than expected | Business news

US inflation fell to 8.2% in the 12 months to September.

The US Bureau of Labor Statistics (BLS) said the consumer price index (CPI), the measure of inflation, fell 8.3% in the year through August.

A larger decline to 8.1% was predicted by a Reuters poll of economists.

The US central bank raised interest rates from 3% to 3.25% in September as part of its efforts to bring inflation back to its 2% target.

Those increases increased the threat of a recession in the United States and they had been warned by the UN.

Higher interest rates mean an increase in the cost of money.

The news will be a blow to President Joe Biden. As the mid-term elections in the United States approached, he had hoped to tame the inflation that is making life more expensive for American voters.


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