Inflation holds grip on the U.S. economy as September rate hits 8.2%

The annual U.S. inflation rate was little changed in September, hitting 8.2% year-over-year compared with August's 8.3% reading as the pace of price increases remains at multi-decade highs, causing pain for many of U.S. households.

High prices for food, shelter and medical care sent the consumer price index for September up by 0.4% compared to August's 0.1%, according to data from the Bureau of Labor Statistics released Thursday morning.