Higher energy prices drove U.S. inflation up 0.6% in September, the largest monthly increase in five months, according to the Bureau of Labor Statistics. Year-over-year prices rose 3.7%, fueled by gasoline surging 9.1% to nearly $4.50 a gallon and fuel oil jumping 15.3%. Airfares also climbed 1.2% monthly.
Core inflation, excluding energy and food, rose 0.3%. The data arrives weeks before midterm elections, intensifying political pressure on President Trump, who has dismissed affordability concerns. Real wages fell 0.5% in September, marking six straight months of year-over-year declines.
Democrats, including Kansas Senate candidate Rev. Adam Hamilton and former Transportation Secretary Pete Buttigieg, blamed Trump’s Iran war, tariffs, and tax policies for the cost-of-living crisis. Republicans face tight races as inflation undermines their affordability messaging.
Source: New York Times Business · Summarized by HeadlinesBriefing