Worsening inflation will pressure Fed to keep raising rates

WASHINGTON (AP) — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising interest rates aggressively. Consumer prices rose 8.2% in September compared with a year earlier, the government said Thursday (Oct. 13, 2022). On a month-to-month basis, prices increased 0.4% from August to September after having ticked up 0.1% from July to August.