Prices in the United States climbed faster in September, and the timing is bad for the White House. Annual inflation reached 3.7%, higher than economists expected, just three weeks before voters head to the polls.
\n\nThe Labor Department released the figures on Wednesday. According to Axios, the Consumer Price Index rose 0.6% from August to September. Over the past year, prices are up 3.7%. A month earlier, the annual rate sat at 3.4%, and the monthly gain was 0.4%.
\n\nCore inflation, which leaves out food and energy because those can swing wildly, looks calmer. It grew 0.3% in September, about the same as in August. Over twelve months it stands at 2.6%, compared with 2.4% before.
\n\nThe Axios report links the surge to the war in the Middle East, where disrupted global energy supplies are pushing fuel costs higher. Housing costs also edged up, with shelter prices rising 0.4%, versus 0.3% a month before. Food prices did not change.
\n\nDrivers can feel it at the pump. AAA says gas averaged above $4.30 this week. Diesel is still above $6.20 a gallon, close to a record. The Washington Post notes that gas prices had been dropping before the Iran war began…
Original source: https://www.timesnownews.com/world
