Airfare prices fall as supply chain issues persist
On a seasonally adjusted basis, overall consumer prices rose 0.4 percent in September, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew by 5.4 percent over the 12-month period. In the latest Macro Data Flash report, NAFCU Chief Economist and Vice President of Research noted “This is slightly faster than last month, but still much lower than the pace since February.”
Core prices (excluding food and energy costs) rose 0.2 percent compared to August. Year-over-year core CPI growth was 4 percent.
“Prices dropped for airfare (-6.4 percent), apparel (-1.1 percent), and used cars and trucks (-0.7 percent) after rapid increases earlier this summer,” said Long.
Energy prices rose 1.3 percent during the month, following a 2.0 percent rise in August. From a year ago, energy prices were up 24.8 percent. Additionally, food prices rose 0.9 percent in September and were up 3.4 percent compared to this time last year.
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