Inflation has come full circle for the Biden administration.
Consumer price growth slowed to its lowest pace since February 2021 — the first full month President Joe Biden was in office, the Labor Department said Thursday in its final inflation report before Election Day.
The data, while a bit hotter than expected, points to an economy experiencing cooler inflation even as the job market remains sturdy and interest rates ease.
The 12-month Consumer Price Index measured 2.4% in September, slightly higher than expectations of 2.3% but down from 2.5% in August. On a month-to-month basis, the index climbed 0.2%, just above expectations of 0.1%.
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