Inflation heats up again, data shows, days before midterm elections where cost of living dominates
Core inflation also rose 3.1% as higher energy costs and strong consumer spending kept price pressures elevated, economists said.
- 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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U.S. inflation picks up, while real consumer spending stalls | Honolulu Star-Advertiser
WASHINGTON >> U.S. inflation accelerated in September as consumers paid more for gasoline and other goods, supporting economists’ expectations of an interest rate increase from the Federal Reserve in December.
US inflation hits 3.6% as strong growth complicates Fed rate outlook
America’s resilient consumer demand is creating an increasingly difficult policy environment for the Federal Reserve. Economic growth exceeded expectations in the third quarter, but inflation accelerated while households saved a smaller share of their income. The combination presents a challenge for policymakers. Consumer spending continues to support economic expansion, yet that same resilience complicates efforts to bring inflation back toward…
The U.S. consumer spending price index (CPE), the preferred measure of the Federal Reserve (Fed) to measure inflation, rose 0.5% in September compared to the previous month, accelerating in relation to the high of 0.3% in August, according to the country's Department of Commerce. The result came in line with the market consensus. On an annual basis, the PCE recorded a high of 3.6% in September, given the high consensus of 3.7%. The core of the i…
Trump hit with brutal midterm warning as new numbers show things 'getting worse'
President Donald Trump was hit with a sharp midterm warning Thursday after a new inflation report showed prices rising at their fastest annual pace in months — raising fresh concerns about the economy just days before the critical midterm elections.“JUST IN: The US still has an inflation problem and...
Inflation in the country accelerated in September to 3.6 per cent year-on-year, according to data published on Thursday by the Department of Commerce. Price increases represent a challenge for the Federal Reserve, which keeps interest rates unchanged, in a context marked by mid-term elections. The Personal Consumption Expenditure Price Index (PCE), the inflation indicator preferred by the Federal Reserve (Fed), recorded an annual increase of 3.6…
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