Hot inflation data puts Fed in complicated spot

The U.S. consumer price index (CPI) rose to 3.7 percent in September, up from 3.4 percent in August. This latest data indicates that persistent price pressures continue to impact the national economy.

These figures arrive ahead of the Federal Reserve's upcoming interest rate decision. The increase in inflation complicates the central bank's policy outlook, placing officials in a difficult position as they determine the appropriate path for interest rates later this month.