US inflation forecast to worsen in September on gas prices

Summarised from 2 outlets · Updated 14 Oct, 06:32 · Archive

US consumer prices are forecast to have risen 3.6% in September from a year earlier, up from 3.4% in August.

Consumer prices in the United States are forecast to have risen 3.6% in September compared with a year earlier, up from 3.4% in August, according to a survey of economists by data provider FactSet. The Labor Department will issue the official report on Wednesday morning.

On a monthly basis, prices are expected to have risen 0.6% from August to September, up from 0.4% the previous month and the largest jump since April. The increase reflects the lingering impact of war on gas prices and the persistence of inflation, which fell sharply from a 9.1% peak in 2022 but has ticked higher since late February.

Excluding volatile food and energy categories, core prices likely rose 2.5% in September from a year ago, up slightly from 2.4% in August. This is closer to the Federal Reserve's 2% inflation target, though core prices have remained mostly at that level since January. Core prices are forecast to have risen just 0.2% from August to September.

The report arrives as inflation has become a significant political issue ahead of the midterm elections, with concerns over affordability dominating the campaign.

How it is being reported

• More expensive gas, semiconductors likely pushed up inflation last monthInflation 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.News4Jax · 14 Oct, 06:01
• More expensive gas, semiconductors likely pushed up inflation last monthInflation 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.Clickorlando · 14 Oct, 06:01

In this story: United States · Labor Department · Federal Reserve · FactSet

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