US September CPI rises 0.6% to 3.7% annual, driven by gasoline

AI-generated briefing · First published

Inflation beat forecasts ahead of midterms, boosting odds of another Fed rate hike.

US consumer prices rose 0.6% in September, lifting the annual rate to 3.7% from 3.4% in August, the Bureau of Labor Statistics reported. The core index excluding food and energy increased 0.3% for the month and 2.6% over the year. [1] [2] [3]

Gasoline prices surged 9.1% in the month and 34.2% year-on-year, accounting for more than half of the monthly CPI increase. Shelter costs rose 0.4%, while food prices were unchanged. [2] [3]

Markets fell after the data; the Nasdaq dropped 0.8% and the S&P 500 fell 0.6%. Economists at Citi now expect the Fed to raise rates again in December. [3] [4] [5]

Sources

  1. CPI for all items increases 0.6% in September; gasoline rises

    BLS Consumer Prices · · Excerpt

  2. US inflation rises more than expected ahead of midterm elections

    BBC Business · · Excerpt

  3. US inflation rises before midterm elections, fuelling rate hike fears

    Al Jazeera · · Full text

  4. Stocks, Bonds Fall as CPI Data Fuel Fed-Hike Bets

    Bloomberg · · Summary only

  5. 花旗经济学家预计美联储12月加息 称核心CPI远超预期

    Sina Finance · · Full text

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