The Consumer Price Index (CPI) rose 0.3% in September from August. A nearly 6% increase in prices at the gas pump accounted from more than half of those gains. CPI rose 1.5% from a year ago, the hottest pace since October 2014 when oil prices were on a descent. This is the kind of turn in inflation that the Federal Reserve has been looking for: a moderate warming trend following the fading impact of falling commodity prices and a strong dollar.
Food inflation flatlined again in September, but is still slightly lower from a year ago. That prompted some consumers to eat at home instead of going out to fast food establishments, bucking a trend