US inflation accelerated to 3.7% in the year to September, with higher motor fuel costs driving the increase. The pace of price rises was stronger than expected ahead of the country’s midterm elections.
The latest figure measures the change in prices over the 12 months to September. The available information identifies motor fuel as the main factor behind the faster rate of inflation, although it does not provide a breakdown of other price movements.
The rise comes at a politically significant time, with the midterm elections approaching. No further details on the response to the figures, their effect on households or possible policy action were provided.
