Consumer Prices Rise 0.6 Percent, Lifting Annual Inflation Above Expectations

Surging energy prices lifted the U.S. annual inflation rate to 3.7 percent in September, according to the Bureau of Labor Statistics.

The consensus estimate among economists was 3.6 percent.

Stripping out the volatile energy and food categories, the 12-month core inflation rate was 2.6 percent, slightly above the market forecast of 2.5 percent.

On a monthly basis, inflation and core inflation rose 0.6 percent and 0.3 percent, respectively.

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