The annual inflation rate in the US edged up to a 13-year high of 5.4% in September of 2021 from 5.3% in August and above market expectations of 5.3%. The energy index rose 24.8% and the food index increased 4.6%. On a monthly basis, consumer prices advanced 0.4%, above forecasts of 0.3%, with the indexes for food and shelter contributing more than half of the monthly increase.
REAL EARNINGS – SEPTEMBER 2021 All employees Real average hourly earnings for all employees increased 0.2 percent from August to September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.6 percent in average hourly earnings combined with an increase of 0.4 percent in the Consumer Price Index for All Urban Consumers (CPI-U). Real average weekly earnings increased 0.8 percent over the month due to the change in real average hourly earnings combined with an increase of 0.6 percent in the average workweek. Real average hourly earnings decreased 0.8 percent, seasonally adjusted, from September 2020 to September 2021. The change in real average hourly earnings combined with no change in the average workweek resulted in a 0.8-percent decrease in real average weekly earnings over this period.