U.S. inflation stays elevated but prices rose less than feared last month

WASHINGTON — U.S. inflation remained elevated last month as gas prices jumped while the cost of rents and some services cooled, painting a mixed picture of the expenses consumers are facing in a murky economy where growth appears steady but hiring slow.

What You Need To Know

U.S. inflation remained elevated last month as the costs of some imported goods rose while rental prices cooled

Consumer prices increased 3% in September from a year earlier, the Labor Department said Friday, up from 2.9% in August

The figures reflect a smaller increase than many economists had forecast, and will likely encourage the Federal Reserve to cut its key interest rate when it meets next week for the second time this year

Consumer prices increased 3% in September from a year earlier, the Labor Department