US inflation dropped to 8.2% over the 12 months to September.
The US Bureau of Labor Statistics (BLS) said the consumer price index (CPI), the measure of inflation, was down from 8.3% in the year to August.
A greater fall to 8.1% had been predicted by a Reuters poll of economists.
The US central bank increased interest rates from 3% to 3.25% in September as part of its efforts to bring inflation down to its 2% target.
Those hikes increased the threat of a US recession and had been warned against by the UN.
Higher interest rates mean an increased cost of borrowing.
The news will be a blow to President Joe Biden. As the US midterm elections approach he had hoped to tame inflation which is making life more expensive for American voters.
This article was originally published by Sky.com. Read the original article here.