US Inflation Reaches 3.7% in September Amid Cost of Living Concerns
· World · The Guardian, Bloomberg
US inflation reached an annual rate of 3.7% in September, according to data released by the Bureau of Labor Statistics on Wednesday. Consumer prices climbed 0.6% from August, pushed upward by soaring energy costs linked to the ongoing US-Israel conflict with Iran. Average gasoline prices remain over a dollar higher than last year, while diesel costs hit record highs. The inflation rate is the highest recorded before a midterm election since 1990, excluding the pandemic era. A Reuters/Ipsos survey indicates that 78% of Americans blame the current administration's policies for out-of-control price increases.
Why it matters
Soaring energy prices and inflation add financial strain to American households while creating political fallout ahead of the midterms.
Read the original report — The Guardian
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