US Inflation Hits 3.7% in September, Above Forecasts
Gasoline accounted for more than half of the monthly increase, and markets raised the odds of another Federal Reserve rate hike.
- On Wednesday, the Bureau of Labor Statistics reported consumer prices rose 0.6% in September, pushing annual inflation to 3.7%, well above the Federal Reserve's 2% target.
- Driven by the Iran war, gasoline prices jumped 9.1% in September, accounting for over half of the monthly inflation increase as oil infrastructure disruptions persisted.
- Excluding volatile food and energy categories, core prices rose 0.3% in September and 2.6% annually, signaling persistent inflation pressure beyond fuel costs.
- The inflation report lands weeks before the November 3 midterm elections, where affordability remains a central voter concern, creating headwinds for the administration and Republican candidates.
- Policymakers meet October 28 to decide on interest rates, with investors pegging a nearly 25% chance of another increase and officials signaling one additional hike this year.
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Inflation worsened last month to 3.7% in sign that prices remain elevated as midterm elections near - WXXV News 25
By CHRISTOPHER RUGABER WASHINGTON (AP) — U.S. inflation accelerated last month as gasoline and many other goods and services became more expensive, evidence that rising prices remain an economic challenge just a few weeks before midterm elections that have focused heavily on affordability. The consumer price index rose 3.7% in September compared with a year ago, the Labor Department said...
Oil Economics Are Plaguing Trump’s Presidency
This is Heatmap Daily, an evening news digest written by our executive editor. Subscribe here.At this point, the real October surprise may be the lack of one — because little seems set to change in the U.S. energy economy between now and the midterm elections on November 3.Inflation certainly isn’t budging. Prices rose 3.7% over the past year, and 0.6% in September alone, according to today’s new government inflation report. That reading was hot…
Energy triggers monthly inflation at 0.6 per cent and stirs up markets a few weeks after mid-term legislative elections
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