U.S. consumer prices recorded their biggest gain in five months in September. The biggest drivers of the increase? The cost of both gasoline and rents surged.
The Consumer Price Index increased 0.3 percent last month after rising 0.2 percent in August. For the 12 months through September, the CPI has risen by 1.5 percent, the biggest year-on-year increase since October 2014. The CPI rose 1.1 percent in the year to August.
The so-called core CPI, which strips out food and energy costs, gained 0.1 percent last month after climbing 0.3 percent in August. Rents, which account for a larger share of the core CPI, recorded their biggest monthly increase in nearly 10 years.