Economists expect prices to have risen 3.1% in September, which would mark a slight increase from a 2.9% year-over-year increase recorded a month prior. The anticipated reading would amount to the highest inflation since May 2024.

Consumer prices rose in September at an annual rate of 3%, but increased a little less than economists had predicted, the Labor Department reported Friday.

Inflation rose 3% year-over-year in September, slightly up from August’s 2.9% pace but below economist forecasts of 3.1%.

The cost of living got even more expensive for Americans last month, with prices rising at the fastest pace since the start of the year.

Economic sentiment dipped for the third month in a row, according to a closely watched gauge on consumer confidence.

ABC News’ Alex Presha spoke with Martha Gimbel, executive director and co-founder of the Budget Lab at Yale, about what the new inflation report means and what could influence prices going forward.

Better-than-expected inflation data Friday morning sparked an end-of-week rally in stocks, sending the Dow, S&P 500 and tech-heavy Nasdaq Composite soaring to fresh record highs.

Understanding the complex relationships between gold and rising prices could reshape your investment strategy.