Inflation Accelerated Last Month, Highlighting Affordability Issues Before Election
Core inflation also picked up as energy costs stayed high, with U.S. oil above $100 a barrel and gas averaging about $4.25 nationwide.
- The Commerce Department reported Thursday that consumer prices rose 3.6% in September compared with a year earlier, up from 3.4% in August, as inflation remained elevated ahead of midterm elections.
- Annual inflation has worsened since the Iran war caused spikes in oil and gas prices, with U.S. oil prices topping $100 a barrel, up from less than $70 before the conflict.
- Prices climbed 0.5% on a monthly basis, the highest figure since May, while excluding volatile energy and food categories, core prices increased 3.1% from a year ago.
- Polls show the rise in inflation has soured most voters on President Donald Trump's economic handling, with affordability concerns remaining central less than a week before midterm elections.
- With inflation above the Federal Reserve's 2% target, the central bank faces pressure to raise rates at its December meeting. Separately, the economy grew at a 3.4% annual rate in the July-September quarter.
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Inflation heats up again, data shows, days before midterm elections where cost of living dominates
An inflation gauge closely monitored by the Federal Reserve accelerated last month, a sign prices remain elevated less than a week from midterm elections that have focused on affordability concerns.
NBC Chicago
Inflation accelerated last month, highlighting affordability issues before election
An inflation gauge closely monitored by the Federal Reserve accelerated last month, showing that prices remain elevated less than a week from midterm elections in which affordability concerns have become a central issue. Consumer prices rose 3.6% in September compared with a year earlier, the Commerce Department said Thursday, up from 3.4% in August. On a monthly basis, prices climbed 0.5%, up from 0.3% in August and the highest figure since May…
An inflation indicator closely followed by the Federal Reserve accelerated last month, showing that prices remain high less than a week after the mid-term elections, where economic concerns have become a central issue.
Telemundo Area de la Bahía 48
Consumer prices rose by 3.6% in September compared to a year earlier, the Department of Commerce reported this Thursday.
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