CPI: Inflation is not settling down

The latest Consumer Price Index shows inflation is not settling down like the Federal Reserve had hoped.

The CPI came in at 8.2 percent versus the 8.1 percent that the markets were expecting. That is only down a tenth of a point from August, despite the Fed’s aggressive rate hike campaign.

Gas was only down about 5 percent in September, but is up 20 percent on the year.

The Food Price index is up 11.2 percent, which is the highest since August 1982.