US Inflation Hits 3.7% in September, Above Forecasts
Gasoline jumped 9.1% and energy costs climbed 5.2%, keeping inflation above the Federal Reserve’s 2% target, the Bureau of Labor Statistics said.
- 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 - WSVN 7News | Miami News, Weather, Sports
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...
US Inflation Rises to 3.7% in September as Gasoline Prices Jump 9.1%
Get latest articles and stories on Business at LatestLY. US consumer inflation rose to 3.7 per cent in September from 3.4 per cent in August, driven largely by a sharp increase in gasoline prices, adding to concerns over persistent price pressures ahead of the Federal Reserve's next interest rate decision. Business News | US Inflation Rises to 3.7% in September as Gasoline Prices Jump 9.1%.
US consumer inflation up more than expected as midterms loom
The uptick underscores voter worries over high costs of living, and comes as President Donald Trump is campaigning in US states to shore up support for his Republican party as it tries to retain control of Congress. The consumer price index (CPI) rose 3.7 percent year-on-year in September, the Department of Labor said, more than the 3.6 percent analysts forecast according to MarketWatch. This was a notable acceleration from 3.4 percent in August…
U.S. inflation continued to accelerate in September, with prices rising by 3.7% over a year, unsurprisingly still largely driven by energy prices.
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