US inflation ticked up in September to 3% — a slightly lower than expected number that paves the way for the Federal Reserve to cut rates at its policy meeting next week.

In a report that got delayed more than a week because of the federal government shutdown, the Consumer Price Index jumped 3% in September over the past 12 months, according to the Bureau of Labor Statistics.

That was the fastest rate since the start of this year and a slight increase from the previous month’s 2.9% Still, economists polled by Bloomberg had expected a slightly hotter 3.1% year-over-year rate. The CPI rose 0.3% on a monthly basis.

The Consumer Price Index should have been released on Oct. 15, but economic data has been halted by the government shutdown. AP

Core inflation, which excludes volatile food an

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