Inflation runs hotter than expected at 3.7% in September, the last CPI report before the midterms
Source: Fortune ·
The figures will likely underscore the lingering impact of the Iran war on gas prices and the persistence of inflation
From the source
Inflation likely worsened in September in one of the last price reports the government will issue before the midterm elections that have been heavily defined by concerns over affordability. Consumer prices are forecast to have risen 3.6% in September compared with a year earlier, up from 3.4% in August, according to a survey of economists by data provider FactSet. The Labor Department will issue the report Wednesday morning. On a monthly basis, prices are expected to have risen 0.6% from August to September, FactSet said, up from 0.4% the previous month and the biggest jump since April. The figures will likely underscore the lingering impact of the Iran war on gas prices and the stubborn persistence of inflation, which has fallen sharply from a 9.1% peak in 2022 but has ticked higher since the war began in late February. Elevated inflation has posed political problems for Republicans in Congress and is a challenge for the Federal Reserve, which is required by Congress to seek stable…