Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers.

Consumer prices rose 2.4 percent versus last year, ticking down from the pace of the previous month. It was less of a slowdown than economists had expected, but there was good news about housing costs.

Inflation fell in September, reflecting an improving economy that has yet to convince many Americans a month before the election.

While today's inflation report is encouraging, the Federal Reserve will take its time lowering interest rates.

Inflation came in hotter than expected in September. The consumer price index, a closely-watched inflation measure, increased 2.4% from September 2023 to this past September. This index was expected to see a year-over-year increase of 2.

Wall Street's main indexes were slightly lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates.

Shares slipped in New York and Europe Thursday as the latest US inflation report dented the odds of rapid interest rate cuts, while crude prices jumped on worries over the