United States consumer prices jumped in September in the final inflation report before the midterm elections, increasing chances of an interest rate hike later this month. Annual inflation accelerated to 3.7 percent, up from 3.4 percent in August. On a monthly basis, prices rose by 0.6 percent, according to the Consumer Price Index report released by the Labor Department’s Bureau of Labor Statistics (BLS) on Wednesday. Petrol prices led the surge as tensions between the US and Iran, as well as Russia and Ukraine, weighed on global energy prices. Petrol prices rose 9.1 percent in September, accounting for more than half of the CPI monthly increase, according to the BLS. They were up 34.2 percent from the same time a year ago.
We show the main point publicly. Create a free account to continue reading the full article, save it, discuss it, and connect it with market and OSINT context.