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US core annual inflation unchanged in September

U.S. annual core inflation came in at 2.4% year over year in September, unchanged from the prior month, data from the U.S. Bureau of Labor Statistics showed.

The consensus estimate of economists polled by Econoday was for an annual core inflation rate of 2.4% in September.

On a monthly basis, the core inflation, which excludes food and energy, stood at 0.1% in September, lower than a reading of 0.3% in August.

Indexes for shelter, medical care, household furnishings and operations, and motor vehicle insurance were among those that rose in September month over month while those for used cars and trucks, apparel, new vehicles, and communication fell.

The broader U.S. consumer price index accelerated 1.7% year over year in September, lower than the Econoday consensus estimate of 1.8% but in line with August's growth rate. Energy prices declined 4.8% on a yearly basis, while food prices climbed 1.8%.

On a monthly basis, the consumer price inflation remained flat in September following a 0.1% print in the previous month.

The U.S. Federal Reserve targets 2% annual inflation.