AssetID: 56088100
Headline: UNCAPTIONED: US Inflation Climbs To Four-Month High As Gas Prices Surge
Caption: US Inflation Climbs To Four-Month High As Gas Prices Surge. U.S. inflation climbed to a four-month high in September as the Iran war continued to push up gasoline prices, with consumer prices rising 3.7% from a year earlier. The annual inflation rate increased from 3.4% in August and remained well above the 2.4% recorded in February before the outbreak of the Iran war. Gasoline prices jumped more than 9% from August and accounted for more than half of September's overall monthly price increase, according to federal data. The national average gasoline price remained above $4.30 a gallon, compared with below $3 before the conflict, while diesel reached $6.29 a gallon. Food prices remained unchanged from August, with annual food inflation at 2.5%, while shelter costs also increased during September. The latest figures came as affordability remained a major concern for voters ahead of November's midterm elections and consumer sentiment hovered near historic lows. The economy added just 29,000 jobs in September, down sharply from 162,000 in August, despite relatively strong economic growth and consumer spending. The Federal Reserve, led by Chair Kevin Warsh, raised interest rates last month for the first time since 2023 and is due to meet again on October 28. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,US inflation,gas prices,Iran war,gasoline,diesel,Kevin Warsh,Federal Reserve,consumer prices,US economy,cost of living,interest rates,food prices
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