Today’s Lead Story
Wednesday, October 14Inflation
September Inflation Hits 3.7%, Squeezing Household Budgets Again
via Bureau of Labor Statistics
Consumer prices rose 3.7% year-over-year in September and 0.6% for the month, the Bureau of Labor Statistics reported October 14. Shelter costs climbed 0.4% — the fastest monthly gain in five months — and real average hourly earnings fell 0.5%, meaning paychecks lost purchasing power for the third consecutive month.
Why it matters
When inflation outpaces wages, every dollar buys less — revisiting your budget to find areas to cut or renegotiate recurring bills can help offset the squeeze.
