Inflation report will provide snapshot of prices as midterms approach
Economists expect 3.7% annual inflation as gasoline above $4.30 a gallon and falling wages keep pressure on shoppers, AAA data shows.
- On Wednesday, an inflation report arrives providing the latest snapshot of prices as affordability remains a top concern for voters ahead of the midterm elections.
- The Iran War drove fuel prices to a three-year high, with diesel reaching $6.27 a gallon as of Tuesday according to AAA, an increase of about 66% since the conflict began.
- Prices increased 3.7% in September while wages fell 0.5% for workers, and Employers added just 29,000 jobs, well below Economists' expectations.
- Investors peg the chance of another Federal Reserve rate increase at nearly 25%, with policymakers set to meet Oct 28 to discuss potential interventions.
- Jack Crosbie of Rolling Stone argued rising gas prices have made this economic trend a permanent fixture of the Trump economy, calling higher interest rates the "final indignity.
15 Articles
15 Articles
'No end in sight': Analysis warns Trump's 'final indignity' could be here to stay
A new analysis of President Donald Trump's latest economic figures shows that one feature many hoped would be a bug has turned into a permanent fixture. The latest inflation data shows that prices increased by 3.7% in September, and advanced 0.6% when compared to the previous month, which was one of...
U.S. inflation accelerated to 3.7 percent in September compared to 3.4 percent in August.
Despite a lull in food and health costs, the prolonged blockade of the Strait of Ormuz makes oil and fuel prices jump, putting President Trump in a bad position L
High energy costs put pressure on the US economy: consumer prices rose faster than expected compared to the previous year. Just before the interim elections, Donald Trump put pressure on the US economy.
Analysis: The new inflation figures for the US are a slap in the face to Donald Trump just three weeks before the crucial midterm elections for Congress. It is the war against Iran that is now stealing Americans' purchasing power. And Trump was elected on bringing down prices.
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