US inflation accelerated in September before midterm elections

Summarised from 2 outlets · Updated 29 Oct, 13:15 · Archive

US consumer prices rose 3.6% annually in September, up from 3.4% in August, as affordability concerns dominated midterm election debate.

Consumer prices in the United States rose 3.6% in September compared with a year earlier, the Commerce Department said Thursday, accelerating from 3.4% in August. On a monthly basis, prices climbed 0.5%, up from 0.3% in August and the highest figure since May.

Annual inflation has worsened since the Iran war caused spikes in oil and gas prices. U.S. oil prices still top $100 a barrel, up from less than $70 before the war. Excluding the volatile energy and food categories, core inflation increased 3.1% from a year ago in September, up from 3% in August.

The acceleration comes less than a week before midterm elections in which affordability concerns have become a central issue. Polls show that the rise in inflation has soured most voters on the economy and President Donald Trump's handling of rising costs. Trump campaigned in 2024 on reducing prices, including bringing the cost of gas below $2 a gallon. Petrol currently averages about $4.25 a gallon nationwide.

How it is being reported

• Inflation accelerated last month, highlighting affordability issues before electionAn inflation gauge closely monitored by the Federal Reserve accelerated last month, a sign prices remain elevated less than a week from midterm elections that have focused on affordability concerns.News4Jax · 29 Oct, 12:34
• Inflation accelerated last month, highlighting affordability issues before electionAn inflation gauge closely monitored by the Federal Reserve accelerated last month, a sign prices remain elevated less than a week from midterm elections that have focused on affordability concerns.Clickorlando · 29 Oct, 12:34

In this story: Federal Reserve · Commerce Department · Donald Trump · United States · Iran

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log