US inflation hit 3.7% in September as gasoline prices surged
What's new: Vehicle fuel prices jumped 34.2% from a year earlier, while core inflation held at 2.6%.
US consumer inflation accelerated to 3.7% in September, topping expectations as a sharp rise in gasoline prices drove much of the monthly increase. The Bureau of Labor Statistics said vehicle fuel prices rose 34.2% from a year earlier and climbed 9.1% in September alone, accounting for more than half of the overall increase. Energy prices were up 20.4% over the year, with fuel oil rising 74.2% and other household energy costs also moving higher. Food prices were flat on the month and up 2.5% from a year earlier. Core inflation, which excludes food and energy, came in at 2.6%, a sign that broader price pressures remained more contained even as energy costs climbed.