US Inflation Hits 3.7% in September, Above Forecasts
Gasoline rose 9.1% and drove more than half of the monthly increase, while core prices climbed 2.6% from a year earlier, the BLS 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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U.S. inflation heats up as Fed rate hike returns to the table | Honolulu Star-Advertiser
WASHINGTON >> U.S. consumer prices accelerated in September as the cost of gasoline surged, dealing another blow to President Donald Trump and his Republican Party ahead of the November 3 midterm elections and putting an interest rate increase later this month back on the radar.
Powered by spikes in energy prices, inflation surges to 3.7% • Maine Morning Star
Inflation grew to a 3.7% annual rate in September, according to an Oct. 14 report from the U.S. Bureau of Labor Statistics, up from 3.4% in August. In the last consumer price inflation report before midterm elections, with voters already fed up with higher prices, September’s number was the highest since May, when it was […]
Bad news for Donald Trump before mid-term elections at the beginning of November: inflation accelerated in September in the United States, according to official figures on Wednesday, driven by the U.S. government.
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