⁍ U.S. consumer prices increased for a fourth straight month in September.

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⁍ Cost of cars and trucks rising by the most since 1969.

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⁍ inflation is slowing amid excess capacity in the economy as it gradually recovers from the COVID-19 recession.

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– The cost of cars and trucks jumped 6.7% in September, the biggest increase since February 1969, to account for most of the increase in the consumer price index, which rose 0.2% last month, the Labor Department said Tuesday. August’s increase was revised upward to 0.4%. Economists expected the CPI to rise 0.3% and the so-called core CPI to rise 1.7%, per Reuters. In the 12 months through September, the CPI increased 1.4% after rising 1.3% in August. Last month’s inflation readings were in line with economists’ expectations. “Price gains are modest as supply chain disruptions have eased and weak demand and excess capacity in many parts of the economy have limited firms’ pricing power,” Gus Faucher, chief economist at PNC, tells Reuters. “As long as inflation remains below 2% the Fed will keep providing stimulus to the economy.”