The federal government recalled some furloughed workers specifically to produce the inflation report, which plays a key role for Social Security beneficiaries.

Economists expect prices to have risen 3.1% in September, which would mark a slight increase from a 2.9% year-over-year increase recorded a month prior. The anticipated reading would amount to the highest inflation since May 2024.

The cost of living got even more expensive for Americans last month, with prices rising at the fastest pace since the start of the year.

The September data gives the Fed a clear path for widely expected rate cuts heading into their remaining meetings this year.

Economists think inflation around the U.S. continued to climb in September, edging farther away from the Fed's 2% annual target.

Inflation remained elevated in September as the BLS released the delayed consumer price index inflation report, as Fed policymakers are set to weigh interest rate cuts next week.

The Bureau of Labor Statistics' September consumer price index report shows that inflation increased 3% compared to last year and fell to 0.2% on a month-to-month basis. NBC News' Brian Cheung and Investopedia editor-in-chief Caleb Silver break down the numbers in the first major economic report released since the government shutdown.

As much as grade inflation is a problem at elite schools, though, it presents even more significant challenges for universities lower down on the higher ed totem pole. A conversation with a recently retired math professor I have known for decades got me to thinking.