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Acceleration of Inflation Continues, Core Services Inflation Spikes Despite the Massive Health-Insurance Adjustment

October 13, 2023

by Wolf Richter Wolf Street

This was the last of 12 health-insurance adjustments that pushed down core CPI and core services CPI; it will swing the other way next month.

The Consumer Price Index (CPI) jumped by 0.40% in September from August, despite the still ongoing ridiculous monthly adjustments to the health insurance CPI that caused it to collapse by 37.3% year-over-year. Today’s CPI release is the last month with that adjustment; with the October CPI, to be released next month, the health insurance CPI will flip, adding further upward momentum to the CPI readings, instead of pushing them down.