US core inflation rises to 40-year high

US consumer inflation soared to a 40-year high as prices continue to rise.

The US Labour Department said on Thursday that core inflation, excluding food and energy prices, rose 6.6 per cent in September from the corresponding period of last year.

It was also up from 6.3 per cent in August, making it the highest increase since 1982.

On a monthly basis, the core retail inflation rose 0.6 per cent in September, according to official data.

US stock futures fell and Treasury yields soared higher after the inflation data topped came out. The dollar also rallied.