The core rate of inflation in the past 12 months climbed to 5.1% from 4.9%. That leaves it just a few ticks below a 40-year high of 5.4% in February.
The overall rate of inflation in the past year was unchanged at 6.2% compared to the prior month.
A key gauge of U.S. inflation rose a mild 0.3% in September, aided by the lower cost of gas. Yet prices are still going up even if they aren't climbing as fast as they were earlier in the year.
Another measure of inflation that omits volatile food and energy costs rose a sharp 0.5% last month. Wall Street had forecast a 0.5% increase in the so-called core personal consumption expenditures price index.
Source: MarketWatch