Inflation gauge watched by the Fed accelerates in September, days before the midterm elections
Summary
An inflation gauge closely monitored by the Federal Reserve accelerated last month, a sign prices remain elevated less than a week from midterm elections that have focused on affordability concerns, the LA Times and The Philadelphia Inquirer reported on Thursday 29 October, Fortune headlining that incomes declined 0.3% and consumer prices jumped 3.6% in September. Rising gas prices drove much of the increase as renewed violence in the Middle East has kept oil prices above $100 a barrel, up from below $70 before the Iran war, but prices also rose outside of fuel costs, PBS NewsHour reported, and Fortune wrote that polls show the rise in inflation has soured most voters on the economy.
Latest: An inflation gauge closely monitored by the Federal Reserve accelerated in September, days before the midterm elections, the LA Times, The Philadelphia Inquirer and PBS NewsHour reported, Fortune headlining that incomes declined 0.3% and consumer prices jumped 3.6%, and PBS NewsHour writing that rising gas prices drove much of the increase.
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How it unfolded
Thursday 29 October
An inflation gauge closely monitored by the Federal Reserve accelerated in September, days before the midterm elections, the LA Times, The Philadelphia Inquirer and PBS NewsHour reported, Fortune headlining that incomes declined 0.3% and consumer prices jumped 3.6%, and PBS NewsHour writing that rising gas prices drove much of the increase.
- 12:41LA Times Inflation heats up again, data show, days before midterm elections
- 12:24PBS NewsHour Inflation heats up again, days before midterm elections
- 09:12The Philadelphia Inquirer Inflation heats up again, data shows, days before midterm elections where cost of living dominates
- 12:13Fortune Subscribers‘The inflation outlook has become more concerning’: Incomes declined 0.3% and consumer prices jumped 3.6% in September as midterms loom