Fitch Ratings believes that the breadth of inflation in the US has been more pronounced than in other developed economies over the past year, raising the risk that price pressures prove more persistent than current core inflation data suggest. According to Fitch Ratings' latest report, this could lead to US interest rates remaining higher for longer. In September, the proportion of US CPI components with year-over-year inflation exceeding 3% reached 46%, double the 2018-19 average of 23%. The breadth of these increases indicates that US price pressures have extended beyond energy and into a wider range of goods and services.