US Inflation Accelerated to 3.7% in September Amid Fuel Price Surge Ahead of Midterm Elections
The US Consumer Price Index rose 3.7% year-over-year in September, up from 3.4% in August, exceeding economists' forecasts. Core inflation accelerated to 2.6%. The main driver was a 9.1% monthly gasoline price increase due to the war with Iran. The data strengthened expectations of another Fed rate hike at the October 27–28 meeting.
Nilufar Karimova