US CPI rises 0.6pc in September

Gasoline was the main driver, jumping 9.1% and contributing more than half of the monthly rise. The broader energy index climbed 5.2%.

Shelter costs increased 0.4%, while food prices were flat overall, with a 0.2% rise in food away from home offset by a 0.1% decline in food at home.

Core CPI, which strips out volatile food and energy prices, rose 0.3%, matching August's increase. Gains were recorded in recreation, used vehicles, education, airline fares, medical care and apparel, while communication was among the few categories to decline.

Over the past year, headline CPI advanced 3.7%, while core inflation stood at 2.6%, up from 2.4% in August. Energy prices surged 20.4% year‑on‑year, driven by a 34.2% jump in gasoline and food prices increased 2.5% over the same period.

Grocery prices slipped 0.1% on the month, with declines in meats, other food at home and dairy offset by increases in beverages, fruits and vegetables, and cereals and bakery goods. Food away from home rose 0.2%.

Energy costs rose sharply, with electricity up 0.2% and natural gas down 0.3%. Within core categories, shelter rose 3.2% over the year, while airline fares jumped 22.4%, education 3.8%, recreation 2.8% and medical care 1.5%.

Reporting by Iain Gilbert at Sharecast.com