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Food, rents boost U.S. consumer inflation in September

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer prices increased solidly in September as Americans paid more for food, rent and a range of other goods, putting pressure on the Biden administration to urgently resolve strained supply chains, which are hampering economic growth. With prices likely to rise further in the months ahead following a recent surge in the costs of energy products, the report from the Labor Department on Wednesday could test Federal Reserve Chair Jerome Powell’s repeated assertion that high inflation is transitory. Powell and the White House have blamed supply chai…

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