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US inflation rises to 3.7% in September as gasoline prices surge

US inflation rises to 3.7% in September as gasoline prices surge
— Foto: Anadolu Agency

Annual consumer inflation accelerated from 3.4% in August, while the monthly Consumer Price Index rose 0.6%. Gasoline prices jumped 9.1%, accounting for more than half of the monthly increase.

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US annual consumer inflation accelerated to 3.7% in September, above market expectations of 3.6%, as higher gasoline prices drove a sharper monthly increase, official data showed Wednesday.

The annual rate rose from 3.4% in August, according to the Bureau of Labor Statistics. On a monthly basis, the Consumer Price Index increased 0.6%, compared with 0.4% the previous month.

Gasoline prices climbed 9.1% in September, accounting for more than half of the overall monthly increase. Energy prices rose 5.2%, accelerating from a 2.1% gain in August.

Shelter costs increased 0.4%, following a 0.3% rise in August. Food prices were unchanged overall: grocery prices fell 0.1%, offsetting a 0.2% increase in the cost of eating out.

Core inflation and other prices

Core inflation, which excludes food and energy, rose to 2.6% annually in September from 2.4% in August. Monthly core inflation held steady at 0.3%.

Prices increased in several categories, including recreation, used cars and trucks, education, airline fares and apparel. Used vehicle prices rose 0.7% over the month, airline fares increased 1.2%, and recreation costs climbed 0.5%. Communication prices fell 0.2%.

On an annual basis, energy prices surged 20.4%, including a 34.2% rise in gasoline and a 74.2% increase in fuel oil. Electricity prices rose 4.4% from a year earlier, while natural gas prices increased 5%.

Food prices climbed 2.5% annually, and shelter costs increased 3.2%.

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