The Bureau of Labor Statistics released the Consumer Price Index\, which showed that core CPI, excluding food and energy, was up 6.6% for the year through September, which is the highest level seen since 1982.

Thursday’s data shows headline inflation was up 0.4% in September month over month, which was twice analyst expectations of 0.2%, even as the annual CPI slowed slightly to 8.2%, from August’s 8.3%.

Core CPI is seen as a more reliable indicator of overall trends, due to the volatility of food and energy prices, which can cloud the month by month picture of the underlying forces affecting price changes.

The report showed an easing of gas and food inflation over earlier in the year. Shelter costs  led the way, increasing 0.7% through the month.

Transportation services was up 1.9% for the month, the largest monthly increase among all of the CPI components. Medical services followed closely behind.

Analysts note the report shows inflationary pressures are continuing to drive price increases, despite the Federal Reserve’s aggressive policy moves lately. The report likely means the Fed will continue its current path of hawkish tightening policy as it pursues its 2% targeted rate of inflation.

Stocks fell in early trading on the report’s release, but later recovered.