US Inflation Accelerates as Gasoline Costs Climb
(MENAFN) Annual consumer inflation in the United States climbed to 3.7% in September, surpassing analysts’ expectations of 3.6% as a sharp rise in gasoline prices pushed up overall costs, official figures showed Wednesday.
The annual rate increased from 3.4% in August, according to data from the Bureau of Labor Statistics.
Monthly inflation also gathered pace, with the Consumer Price Index (CPI) rising 0.6% in September, compared with a 0.4% increase in the previous month.
Gasoline prices surged 9.1% during September, accounting for more than half of the overall monthly increase in consumer prices. Energy costs rose 5.2%, accelerating significantly from the 2.1% increase recorded in August.
Housing-related expenses added to inflationary pressures, with shelter costs advancing 0.4% in September after posting a 0.3% rise the month before.
Food prices remained broadly stable. A 0.1% decline in grocery costs offset a 0.2% increase in prices at restaurants and other dining establishments, leaving the overall food index unchanged.
The annual rate increased from 3.4% in August, according to data from the Bureau of Labor Statistics.
Monthly inflation also gathered pace, with the Consumer Price Index (CPI) rising 0.6% in September, compared with a 0.4% increase in the previous month.
Gasoline prices surged 9.1% during September, accounting for more than half of the overall monthly increase in consumer prices. Energy costs rose 5.2%, accelerating significantly from the 2.1% increase recorded in August.
Housing-related expenses added to inflationary pressures, with shelter costs advancing 0.4% in September after posting a 0.3% rise the month before.
Food prices remained broadly stable. A 0.1% decline in grocery costs offset a 0.2% increase in prices at restaurants and other dining establishments, leaving the overall food index unchanged.
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