By Geoffrey Smith
Investing.com -- U.S. consumer inflation again turned out stronger than expected in September, dashing hopes for a slowdown that might persuade the Federal Reserve to stop raising interest rates.
The consumer price index rose 0.4% from August, and was up 8.2% on the year, according to the Bureau of Economic Analysis. While the headline rate was down fractionally from 8.3% in August, it's still far above the Fed's 2% target.
Stripping out volatile food and energy components, core prices rose by 0.6% for a second straight month, indicating broad and sustained inflationary pressure across the economy. In annual terms, the core CPI accelerated to 6.6% from 6.3% a month earlier.