US Inflation Hits 3.7% in September, Above Forecasts
Gasoline prices jumped 7.1% and pushed core inflation higher, keeping pressure on the Federal Reserve before its next policy meeting.
- 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.
222 Articles
222 Articles
U.S. Inflation Rises to 3.7% as Gasoline Prices Surge in September
U.S. inflation accelerated in September as a sharp increase in gasoline prices pushed consumer costs higher, while rents, airline tickets and used vehicles also became more expensive. The Consumer Price Index rose 3.7% over the 12 months through September, up from 3.4% in August, the Bureau of Labor Statistics reported Wednesday. Prices increased 0.6% over […]
The nominal homologous reading, which stood at 3.7%, marginally exceeded the expectations of the market, such as the underlying inflation, which already goes at 2.6%, reversing two months of decline.
Inflation Climbs to 3.7% as Election Nears
Voters heading into the midterms are getting one last memory of what everything costs. Government data show that inflation in September increased to 3.7%, a fater pace than economists expected—the Wall Street Journal says economists it surveyed predicted a 3.6% rate—and well above the Federal Reserve's...
The consumer price index rose to 3.7 per cent year-on-year in September, driven by the rise in energy and other goods prices
Inflation in the US reached 3.7% per year in September. Gasoline, housing and other services took on the household budget
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