Government data showed on Friday that inflation rose less than economists had expected in September, as investors monitored what this might mean for the Federal Reserve's aggressiveness in cutting interest rates.
The latest data from the Bureau of Labor Statistics indicates that the Consumer Price Index (CPI) rose 3.0% year-over-year in September, compared to a 2.9% increase in August, below economists' expectations of 3.1%.
On a monthly basis, prices rose 0.3% compared to a 0.4% increase in August, which was less than economists' expectations of a 0.4% increase.
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