Consumer prices rose at annualized rate of 3% in September: federal government

The country's annualized inflation rate was 3% in September, according to the federal government's Consumer Price Index report released Tuesday.

The rate was 2.9% in August. The annualized rate for last month was lower than the Dow Jones consensus estimate of 3.1%, according to CNBC. 

The country has not had an annualized inflation rate of 3% since January, according to CNN.