Annual inflation jumped to 3.7%, accelerating from 3.4% in August and outpacing economists' expected 3.6% jump.

The Labor Department released the latest consumer price index data for September which showed CPI inflation rose further from the Fed's target for the month.

With accelerating inflation, markets see a higher chance of an October hike, but December hike remains the base case.

By Lucia Mutikani WASHINGTON, Oct 13 (Reuters) - US consumer prices accelerated in September amid a surge in gasoline costs, dealing another blow to President Donald Trump and his Republican Party ahead of the November 3 midterm elections and putting an interest rate increase later this month back on the radar.

The hotter-than-expected CPI reading for September was "disappointing," with services inflation showing little sign of improvement, said Chicago Fed president Austan Goolsbee. "You can't really a

Gold and silver futures settled lower after U.S. consumer price inflation for September landed above estimates, increasing market expectations for a Fed interest-rate rise this month and pushing the U.

Federal Reserve Bank of Chicago President ​Austan Goolsbee said on ‌Wednesday the latest consumer-level inflation data left ​him worried.

The strength seen in CPI data on Wednesday suggests there are risks that wholesale inflation may come in hotter than forecast, said Scott Anderson, chief U.S. economist at BMO Capital Markets. Core consumer prices,

A basket of goods is defined as a constant set of consumer products and services valued on an annual basis and used to calculate the consumer price index.

Today, Oct. 14, 2026, hotter-than-expected inflation data revived rate-hike bets, pressuring the enterprise software giant alongside lingering AI cloud expansion concerns.