Gas prices, which rose modestly in September, were expected to be a contributor to a rise in inflation last month, along with increases seen in areas such as food, housing, electricity and tariff-impacted goods. Frederic J. Brown/AFP/Getty Images

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.

Consumer prices rose 0.3% in September, which drove the annual rate of inflation from 2.9% to 3%, the highest it’s been since January, according to Bureau of Labor Statistics data released Friday.

Economists were expecting that inflation would continue to pick up speed, rising 0.4% for the month and 3.1% from the year before, according to FactSet estimates.

Friday’s inflation data is a disconcerting reminde

See Full Page