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Inflation cooled slightly in September, with consumer prices up 3.0% year over year and 0.3% on the month, undershooting forecasts, the Bureau of Labor Statistics reported Friday. The release arrived nine days late due to the government shutdown, which has sidelined most economic reports and left the Federal Reserve missing key data. Even so, the softer figures strengthen expectations for another quarter-point rate cut later this month. The report—released by recalled BLS staff—also set Social Security’s cost-of-living increase: benefits will rise 2.8% next year, about $56 a month.

Prepared by Christopher Adams and reviewed by editorial team.