US Consumer Inflation Expected to Rise to 3.6 Percent in September
· Business · The Independent, CBS News, CNBC
US consumer prices are forecast to have risen 3.6% in September compared to a year earlier, up from 3.4% in August, according to a FactSet survey of economists. The Labor Department is scheduled to release the report on Wednesday morning ahead of midterm elections defined by cost-of-living concerns. On a monthly basis, prices are expected to jump 0.6%, marking the largest increase since April. The rise is largely attributed to lingering impacts on gas prices from the Iran war and stubborn core inflation pressures. Federal Reserve officials are monitoring the data closely to determine whether further interest rate hikes are necessary.
Why it matters
Higher inflation erodes consumer purchasing power and complicates political fortunes for lawmakers ahead of crucial elections, while pressuring the Federal Reserve on interest rates.
Read the original report — The Independent
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