CUNA Senior Economist Dawit Kebede, PhD, issued the following statement in response to the Bureau of Labor Statistics September Consumer Price Index report.

“Inflation remained high in September, as expected, due to continued supply disruptions and labor shortages. The imbalances between demand and supply that have been driving price increases hasn't changed after a slight indication of slowing down in August.

“The small monthly change for September is not surprising considering the impact of Delta in recent months, and may not bring a change in the calculus of the Federal Reserve's monetary policy response.”