Latest inflation data shows Americans continue to be punished by rising prices

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By Alicia Wallace, CNN Business

American consumers continue to be punished by high prices, despite lower gas costs and unprecedented action from the Federal Reserve to tame inflation, according to data released Thursday by the Bureau of Labor Statistics.

Annual inflation rose by 8.2% in September, a slower increase than the 8.3% rise seen in August, according to the Consumer Price Index, which measures the changes in prices for a basket of consumer goods and services. Economists had projected the pace of price increases would slow to 8.1% last month.

On a monthly basis, overall consumer prices increased by 0.4% from August.

This story is developing and will be updated.

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