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US inflation climbs to 3.7%, jolting markets
Original: forex factory
US inflation rose to 3.7% in September, driven largely by higher gasoline prices, according to newly released consumer price figures. It was the third straight month inflation outpaced worker pay growth, and the data sent stocks lower, with the S&P 500 and Nasdaq both declining as traders braced for tighter interest rate policy. Commentators described the jump as an unwelcome surprise coming just before elections, with analysts warning that accelerating price increases complicate the economic outlook.
Why now: The fresh US inflation report surprised markets and revived debate over interest rates and the economy.
US inflationFederal ReserveS&P 500Nasdaqgasoline prices
Evidence
- US inflation rose to 3.7% in September, figures show · The Guardian
- The latest inflation data is expected to show price increases are accelerating · CNBC
- Inflation surpassed worker paychecks for third straight month · Yahoo Finance Australia
- Stock market today: Hot inflation report drops tech, drives S&P 500, Nasdaq down · Yahoo Finance
- Inflation rose to 3.7% last month in last snapshot of consumer prices before the midterms · CNN
- ‘Ugly’ jump in US inflation, driven by gasoline prices, in blow to Trump before midterm elections – business live · The Guardian
Elsewhere
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