Inflation Stays Elevated But Prices Rose Less Than Feared

WASHINGTON (AP) — U.S. inflation remained elevated last month as the costs of some imported goods rose while rental prices cooled. Consumer prices increased 3% in September from a year earlier, the Labor Department said Friday, up from 2.9% in August. The figures reflect a smaller increase than many economists had forecast, and will likely encourage the Federal Reserve to cut its key interest rate when it meets next week for the second time this year.