Inflation Rose to 3.7 Percent in September as Gas Prices Jumped
Gasoline was up 9.1 percent in the month and 34.2 percent from a year earlier, accounting for more than half of September's increase.
Consumer prices rose 0.6 percent in September, seasonally adjusted, after a 0.4 percent rise in August, and were 3.7 percent higher than a year earlier, up from 3.4 percent, the Bureau of Labor Statistics said Wednesday, October 14. Economists polled by Reuters had expected 3.6 percent.
'The index for gasoline rose 9.1 percent in September, accounting for over half of the monthly all items increase,' the bureau said; gasoline was 34.2 percent more expensive than a year earlier, and the overall energy index rose 5.2 percent in the month. Excluding food and energy, prices rose 0.3 percent in the month and 2.6 percent over the year, up from 2.4 percent.
It was the last inflation report before the Federal Reserve's October 27-28 meeting. The next report, for October, is due November 10.
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