US inflation increases to 3.7% in September ahead of midterms

Annual consumer inflation in the United States increased to 3.7% in September, according to reports from the Washington Examiner, The Wall Street Journal, CNN, NBC News, AP News, and Yahoo Finance. The Bureau of Labor Statistics released the update to the consumer price index on Wednesday. The Washington Examiner noted that the annual rate rose by three-tenths of a percentage point from the previous period. [1][2][3][4][5][6][7]

The Washington Examiner, NBC News, and AP News all reported that the economic update is the final consumer price index report released before next month's midterm elections. NBC News noted that higher prices for gas and diesel squeezed consumers, while AP News reported that overall price levels remain elevated. [1][5][6]

Following the release of the inflation data, The Wall Street Journal reported that Treasury yields jumped because the hotter than expected numbers could alter the rate path of the Federal Reserve. Yahoo Finance also reported that the figures caused prices for Bitcoin and gold to fall while raising questions about potential central bank interest rate actions. [2][7]

The Washington Examiner reported that persistent price pressures have negatively affected voter sentiment toward President Donald Trump and the Republican party ahead of the upcoming elections. [1]