Economic Report: Inflation rises at 5.4% yearly pace in September, CPI shows, and stays at 30-year high

The numbers: Yet another increase in the cost of living in September kept the rate of U.S. inflation at a 30-year peak, adding to mounting evidence that prices are likely to remain high well into next year.

The consumer price index climbed 0.4% last month, the government said Wednesday. Higher prices for food, gasoline and rent drove most of the advance.

Economists…