US Consumer Prices Rose 3.7% Annually in September Driven by Gas Prices
Macro·3 articles across 3 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
US consumer prices increased by 3.7% year-over-year in September, marking the fastest pace in five months. The rise was primarily driven by a significant surge in motor fuel costs, which contributed to the overall inflationary pressures affecting household budgets ahead of the upcoming midterm elections.
Economists had anticipated a monthly increase of 0.6% and a year-over-year rise of 3.6%. However, the actual data revealed a higher-than-expected inflation rate, with gasoline prices alone climbing by 7.1% last month, intensifying concerns about rising living costs.
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“The consumer price index was expected to increase 0.6% in September on a monthly basis and 3.6% from a year ago, according to the Dow Jones consensus forecast.”
CNBC — Consumer prices rose 3.7% annually in September as gas prices skyrocket“US consumer prices advanced in September at the fastest pace in five months and a gauge of underlying price pressures rose by more than expected, keeping the squeeze on household budgets ahead of November’s midterm elections.”
Bloomberg — US Consumer Prices Rise by Most Since April in Broad Advance“The pace of price rises increased to 3.7% in the year to September, driving by higher motor fuel costs.”
bbc — US inflation rises more than expected - here's what is happening with prices
SupportCorroborates it
“A surge in energy costs is expected to drive overall U.S. consumer inflation higher, with September numbers seen at 0.6% on a monthly basis by economists polled by Reuters.”
oilprice — Rising Gasoline Prices Fuel Fresh Inflation Fears in the U.S.“Economists expect the consumer price index for September to rise 0.6% on the month and 3.6% year over year.”
CNBC — The latest inflation data is expected to show price increases are accelerating
Earlier versions
- Oct 14, 12:41 PM — U.S. Inflation Expected to Rise 0.6% in September Driven by 7% Jump in Gasoline Prices (3/3)
- Oct 14, 1:53 PM — US Consumer Prices Rose 3.7% in September Driven by Rising Gas Costs (2/2)