After its release was delayed due to the government shutdown, the Bureau of Labor Statistics released its monthly consumer inflation report showing the price of goods and services increased 3% for the 12-month period ending in September.

The 3% increase marked the highest inflation rate in the U.S. since January 2025. The rate is up from 2.9% in August and 2.7% in July.

How much of a role President Donald Trump's tariff policies have played in inflation remains unclear. The inflation rate on items other than food and energy increased to 3% for the year ending in September.

Last week, the Budget Lab at Yale University said President Trump's tariffs would raise prices by almost 1.3% in the short run, costing the typical middle-class household more than $1,800 per year. Those figures have

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