US Consumer Prices Rose 3.7% in September Driven by Rising Gas Costs
Macro·2 articles across 2 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
US consumer prices increased at an annual rate of 3.7% in September, marking the fastest pace in five months. This rise was primarily driven by a significant 9.1% increase in gasoline prices, which has heightened inflation concerns ahead of the upcoming midterm elections.
The consumer price index was anticipated to rise 0.6% on a monthly basis, but the actual increase reflects broader price pressures impacting household budgets. The increase in fuel costs has contributed to a squeeze on consumers, as inflation continues to outpace expectations.
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 at 3.7% annual rate in September as gas costs skyrocket“US consumer prices advanced at the fastest pace in five months on rising fuel costs 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 ahead of midterm elections
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.“Gasoline rose 9.1% in September, pushing overall inflation to 3.7%”
quartz — Gasoline rose 9.1% in September, pushing overall inflation to 3.7%“U.S. inflation is expected to surge in September as gasoline prices jumped 7%”
quartz — U.S. inflation is expected to surge in September as gasoline prices jumped 7%
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)