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Skip to Main Content Menu Search Search Sign In QUICK LINKS * News * Sports * Radio * Music * Listen Live * TV * Watch * news * Top Stories * Local * COVID-19 * Opinion * World * Canada * Politics * Indigenous * The National * Business * Health * Entertainment * Science * CBC News Investigates * Go Public * Shows * About CBC News * More * Business * Health * Entertainment * Science * CBC News Investigates * Go Public * Shows * About CBC News U.S. inflation rate rises to 13-year high of 5.4% | CBC News Loaded Business U.S. INFLATION RATE RISES TO 13-YEAR HIGH OF 5.4% The U.S. inflation rate rose to a 13-year high in September as rising costs for food and shelter pushed the rate up to 5.4 per cent. SOCIAL SHARING * FACEBOOK 0 * LINKEDIN 0 * TWITTER 0 * EMAIL 0 * REDDIT 0 ENERGY COSTS HAVE SOARED BY 25 PER CENT IN PAST YEAR CBC News · Posted: Oct 13, 2021 8:58 AM ET | Last Updated: October 13 U.S. energy prices have soared by almost one quarter in the past year. (Ken Ruinard/The Associated Press) 1485 comments The U.S. inflation rate rose to a 13-year high in September as rising costs for food and shelter pushed the rate up to 5.4 per cent. Higher prices for food and shelter made up half of the increase in the overall rate, the U.S. Bureau of Labour Statistics said in a release. But the biggest individual category increase was energy, the cost of which has risen by almost 25 per cent in the past year. Economists were expecting the number to come in at around 5.3 per cent, which would have been the highest rate since 2013. But the figure ended up being higher than it's been since 2008, right before the financial crisis. The COVID-19 pandemic that started in early 2020 caused demand for all sorts of goods and services to plummet. But that demand is now returning so swiftly that supply chains can't keep up, which is leading to huge price spikes in just about everything. * Brace yourself — gas prices are hitting records as global energy crisis arrives in Canada "Consumers are feeling the pinch from higher costs for many essentials, with the pace of inflation outstripping wage growth since the spring," said Leslie Preston, an economist with TD Bank. Not everything is getting more expensive, however. While the price of used cars and trucks has skyrocketed during the pandemic, both have now fallen for two months in a row. Airline fares and apparel prices also fell during the month. "Many travel-related prices that were hot in the spring are trending down," Preston said. And the price of medical care fell by 0.1 per cent during the month, while the cost of medical care commodities is down by 1.6 per cent in the past 12 months. * CBC News Business 'Carpocalypse' comes to Canada as rental car shortage worsens CBC's Journalistic Standards and Practices|About CBC News Report Typo or Error Your weekly look at what’s happening in the worlds of economics, business and finance. Senior business correspondent Peter Armstrong untangles what it means for you, in your inbox Monday mornings. Email address: Subscribe Current TimeIgnore this field. If any data is entered for this field, you will not be subscribed to this newsletter. ... The next issue of the Mind your Business will soon be in your inbox. Discover all CBC newsletters in the Subscription Centre. COMMENTS To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). 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