US inflation rises to 3.7 percent, above forecasts, in final release before midterms
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US inflation rose to 3.7% in the year to September, up from 3.4% in August and above economists' forecasts, according to figures from the Bureau of Labor Statistics. The increase was driven by higher gasoline prices, which spiked after disruption to Middle East energy supplies linked to the US-Israel conflict with Iran. The release is the final inflation data before next month's midterm elections, which are being fought over cost-of-living pressures across the country.
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