Inflation edged up in Sep., report shows
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inflation, The shutdown
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The government shutdown is now on Day 26 with no resolution in sight, as both sides remain entrenched in their positions over th
A report by the Bureau of Labor Statistics found that the consumer price index increased by 0.3% during September compared to August.
Roughly 750,000 furloughed government workers already feel crimped by the shutdown as they suffer missed paychecks and strained budgets. Those direct effects will grow dramatically on Nov. 1, when millions of low-income Americans are set to lose access to critical food assistance.
Economists think inflation around the U.S. continued to climb in September, edging farther away from the Fed's 2% annual target.
Markets again set new record highs, with investors shrugging off the government shutdown and the latest inflation data.
The government shutdown entered day 24 Friday as fears mounted that the impacts of the funding lapse may soon start to bite. The Senate failed to pass a bill to keep paying some federal employees who work through the shutdown,
Better reports a government shutdown may lower mortgage rates but introduces processing delays, especially for FHA and VA loans.
Inflation rose in September. The Bureau of Labor Statistics released CPI data during the government shutdown, which has affected some operations.