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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Pennsylvania Capital-Star
Source New MexicoPowered by spikes in energy prices, inflation surges to 3.7% in last report before midterm elections
Spikes in energy prices were largely responsible: Gas is now up 34% for the year, and fuel oil, which includes diesel, is up 72% as the Iran war drags on.
Core Inflation Holds Steady in September, Energy Costs Push CPI Higher
September’s core inflation rate provided a bright spot to the monthly Consumer Price Index (CPI) report released by the U.S. Bureau of Labor Statistics (BLS) on Wednesday.Core inflation, which excludes volatile energy and food products, increased a seasonally-adjusted 0.3% in September, matching August’s month-to-month rise, the BLS reports. The 12-month core inflation of 2.6% in September was higher than August’s 2.4% 12-month rise – but, that …
The cost of energy has increased by 20% in one year, according to statistics published on Wednesday 14 October. Bad news for Donald Trump, elected two years ago on the promise to lower prices.
U.S. inflation in September rose to 3.7%, higher than analysts had predicted, as the highly competitive U.S. midterm elections approach in November.
The September CPI rose 3.7% year-on-year, fuel-driven. The odds of the Fed rising rates on October 28 were close to 50%, according to estimates.
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