US consumer inflation rises to 3.7% in September, driven by higher gasoline prices

US consumer inflation rose to 3.7 percent in September, marking a notable acceleration from the 3.4 percent rate recorded in August. The latest data from the Department of Labor exceeded the 3.6 percent increase that economists had anticipated. On a month-on-month basis, inflation also picked up pace, rising to 0.6 percent compared to 0.4 percent in the previous month.

The increase in the consumer price index was driven largely by energy costs, with gasoline prices surging 9.1 percent over the month. According to the report, rising gasoline costs accounted for more than half of the total monthly increase in the index. Analysts have attributed this upward pressure on energy prices to the ongoing conflict involving Iran.

When excluding the volatile food and energy sectors, the core consumer price index rose by 2.6 percent on a year-on-year basis. This core metric is often monitored by economists to gauge underlying trends in price changes that are less susceptible to short-term fluctuations in commodity markets.

The rise in inflation comes as the United States approaches midterm elections, intensifying concerns regarding the cost of living for American households. The economic data arrives as political campaigns are underway, with President Donald Trump actively campaigning in various states to support Republican efforts to retain control of Congress.

The current inflationary environment remains a focal point for voters and policymakers alike. As energy prices continue to influence broader economic indicators, the impact of these costs on household budgets remains a central issue in the lead-up to next month’s elections.