US inflation hits 3.7% in September as gasoline prices surge

bbc.co.uk —

US inflation rose to 3.7% in the year to September, exceeding forecasts and marking an increase from 3.4% in August, according to official data released ahead of next month's midterm elections. The rise was driven by higher gasoline prices, which spiked following disruption to Middle East energy supplies due to the US-Israel conflict with Iran. Car fuel costs jumped 34.2% over 12 months, accounting for more than half of the September increase. Energy inflation overall climbed 20.4% annually, with fuel oil up 74.2%. Core inflation, excluding food and energy, held at 2.6%, while food prices remained flat. Experts are watching whether energy costs will spill into other sectors.


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US inflation hits 3.7% in September as gasoline prices surge | News Minimalist