US inflation grew by 3.7% on an annual basis in September, above estimates

Inflation in the United States rose to 3.7% in September from 3.4% in September. The figure is above the expectations of analysts who were betting on a +3.6 percent.

On a monthly basis, prices recorded a +0.6 percent. The core index, net of energy and food, stood at 2.6% on an annual basis and 0.3% on a monthly basis, in both cases above expectations.