The government shutdown likely means there won’t be an inflation report next month for the first time in more than seven decades, the White House said Friday, leaving Wall Street and the Federal Reser

Inflation rose in September. The Bureau of Labor Statistics released CPI data during the government shutdown, which has affected some operations.

Economists expect prices to have risen 3.1% in September, which would mark a slight increase from a 2.9% year-over-year increase recorded a month prior. The anticipated reading would amount to the highest inflation since May 2024.

Consumer prices rose in September at an annual rate of 3%, but increased a little less than economists had predicted, the Labor Department reported Friday.

The first point to remember, economists say, is that the Fed believes its current benchmark interest rate — at a range of 4% to 4.25% — is so high that it is actually slowing down the U.S. economy. Fed officials have debated how much it is slowing the economy, but they all agree on this basic fact.

The cost of living got even more expensive for Americans last month, with prices rising at the fastest pace since the start of the year.

Inflation last month rose at an annual rate of 3%, coming in below economists' forecasts as the impact of President Trump's tariffs remain muted.

Inflation remained elevated in September as the BLS released the delayed consumer price index inflation report, as Fed policymakers are set to weigh interest rate cuts next week.

Economists think inflation around the U.S. continued to climb in September, edging farther away from the Fed's 2% annual target.