US inflation up 3.7 pct in September
US consumer inflation was hotter than anticipated in September, government data showed on Wednesday, as Washington's war with Tehran pushed energy costs higher, deepening strains on American households ahead of next month's midterm elections. The uptick underscores voter worries over high costs of living, and comes as US President Donald Trump is campaigning in US states to shore up support for his Republican party as it tries to retain control of Congress. The consumer price index (CPI) was up more than analysts expected in September, rising 3.7 percent on a year-on-year basis, said the US Department of Labour. This was a notable acceleration from the 3.4 percent reading in August. Economists had forecast a slightly cooler reading of 3.6 percent, according to MarketWatch. On a monthly basis, costs jumped 0.6 percent from August to September, the biggest gain in five months, up from a 0.4 percent increase the previous month. Petrol costs accounted for more than half of the jump, surging 9.1 percent on a monthly basis, Wednesday's report said. Excluding the volatile food and energy sectors, "core" CPI was up 2.6 percent from a year ago. Surging investment in data centres and AI has also pushed up prices for computer chips and the consumer electronics that...
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