US Inflation Hits 3.7% in September, Above Forecasts
Gas prices rose 9.1% in September, pushing core inflation higher and increasing pressure on the Federal Reserve before its next policy meeting.
- 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.
302 Articles
302 Articles
Fed rate hike call seen tight as inflation heats up
A Federal Reserve interest-rate decision later this month may be a closer call than previously thought after Labor Department data showed consumer prices were up 3.7 percent last month from a year earlier, well above the Fed's 2 percent target and moving in the wrong direction. Higher gasoline prices from the Middle East war were a main driver. Excluding volatile food and energy prices, the core Consumer Price Index (CPI) was up 2.6 percent, mor…
The consumer price index rose in the US by 0.6%, and annual inflation reached 3.7%, above economists' forecasts. Rising energy prices increase pressure on the Federal Reserve to consider another interest rate hike • In Israel, inflation is expected to be much lower, but the interest rate gap between the countries may make it difficult for the Bank of Israel to continue cutting rates
The acceleration of inflation in the United States, driven by rising fuel prices, has re-established price pressures to the economic landscape, putting the Fed in the face of a difficult equation of containing inflation and avoiding tightening monetary policy in a way that could increase pressure on the labour market.
Trump gets an ugly October surprise at the worst possible time
President Donald Trump has been hit with a fresh blow with an unwelcome October surprise just before the midterms, which contradicts his final pitch to American voters on the campaign trail. Within a week of the president declaring that “prices are coming down very fast,” inflation is climbing again, and the latest numbers from his government are much worse than economists projected.The Bureau of Labor Statistics revealed that the Consumer Price…
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