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More Expensive Gas, Semiconductors Likely Pushed up Inflation Last Month
Gasoline prices jumped 7.1% in September, and economists said the annual inflation rate likely rose to 3.6%, FactSet survey showed.
- The Labor Department will release the Consumer Price Index report on Wednesday morning, with consumer prices forecast to have risen 3.6% in September, up from 3.4% in August, according to data provider FactSet.
- Gasoline prices soared 7.1% in September, data from the Energy Information Administration showed, as the Iran war has disrupted oil supplies and fueled higher energy costs driving the inflation surge.
- Excluding volatile food and energy categories, core prices likely rose 2.5% in September, up from 2.4% in August. Scott Anderson, chief US economist at BMO Capital Markets, said moderate core inflation "should be good enough for the Fed to hold in October."
- Elevated inflation has taken a toll on President Donald Trump; a poll by The Associated Press-NORC Center found just 17% of Americans approve of his handling of the cost of living issue.
- The Senior Citizens League projects a 3.5% cost-of-living adjustment for Social Security benefits in 2027, determined by third-quarter data and directly affecting millions of retirees nationwide.
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24 Articles
24 Articles
More expensive gas, semiconductors likely pushed up inflation last mon
WASHINGTON (AP) — Inflation likely worsened in September in one of the last price reports the government will issue before the midterm elections that have been heavily defined by concerns over affordability . Consumer prices are forecast
·Baltimore, United States
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The Toronto Star+16 Reposted by 16 other sources
More expensive gas, semiconductors likely pushed up inflation last month
WASHINGTON (AP) — Inflation likely worsened in September in one of the last price reports the government will issue before the midterm elections that have been heavily defined by concerns over affordability.
·Toronto, Canada
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High gasoline prices expected to boost US consumer inflation in September
·London, United Kingdom
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Coverage Details
Total News Sources24
Leaning Left11Leaning Right1Center10Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 45%
Factuality
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