KEY POINTS

The Labor Department reported annual U.S. inflation at 3% in September.

The rate is up from August but lower than economists were expecting.

The change is not likely to impact another interest rate cut by the Fed.

U.S. inflation continued its upward trajectory in September but prices on goods and services, which rose 3% on an annual basis last month, increased less than many economists were predicting.

Friday’s Consumer Price Index report from the Labor Department was released over a week later than usual and is the only federal data that’s been released amid the ongoing government shutdown. That’s thanks to the need for updated inflation data to make annual cost of living adjustments to Social Security benefits, according to the Wall Street Journal .

CPI inflation mov

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