U.S. consumer prices rose 3.7% in September from a year earlier, up from 3.4% in August, the Labor Department said Wednesday. Prices increased 0.6% from August to September, compared with a 0.4% monthly rise the previous month.
The report cited higher costs for gasoline, clothing and air fares. Separate Commerce Department data showed retail sales increased 0.8% in September after a revised 1.3% gain in August; excluding gas stations, sales rose 0.2%. Kevin Hassett, director of the National Economic Council, told NewsNation at the White House that he saw “a bunch of good news” in the inflation report. The figures come as elevated inflation remains a challenge for the Federal Reserve, according to the report.