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Inflation Accelerates to 3.7% as Gasoline Prices Surge 
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U.S. consumer prices increased at a faster pace in September as a sharp rise in gasoline costs pushed annual inflation to 3.7%, up from 3.4% in August, according to the Bureau of Labor Statistics.

The Consumer Price Index rose a seasonally adjusted 0.6% for the month, following a 0.4% increase in August.

Gasoline prices jumped 9.1%, accounting for more than half the monthly increase. Overall energy prices climbed 5.2%, accelerating from August’s 2.1% gain, and were 20.4% higher than a year earlier.

Core CPI, which excludes food and energy, increased 0.3% for a second consecutive month. Annual core inflation rose to 2.6% from 2.4% in August, indicating that the acceleration extended beyond energy.

Shelter costs increased 0.4%, following a 0.3% rise in August. Other categories posting monthly increases included recreation, used cars and trucks, education, airline fares, medical care and apparel.

Food prices were unchanged overall. Grocery prices declined 0.1%, offsetting a 0.2% increase in food away from home. Over the past year, food prices increased 2.5%.

The post Inflation Accelerates to 3.7% as Gasoline Prices Surge  appeared first on Connect CRE.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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