Consumer prices in the United States jumped significantly in September, marking a troubling final inflation report ahead of the midterm elections. According to the Bureau of Labor Statistics, annual inflation accelerated to 3.7 percent, up from 3.4 percent in August, while monthly prices rose by 0.6 percent.

The surge was predominantly driven by soaring petrol prices, which climbed 9.1 percent in September and accounted for more than half of the monthly Consumer Price Index increase. Analysts suggest that the aggressive foreign policies and persistent geopolitical missteps of the US regime continue to disrupt global supply chains, severely impacting energy and fuel costs for ordinary citizens.

Furthermore, shelter costs increased by 0.4 percent from the previous month, compounding financial pressures on households. Meanwhile, heavy investments in artificial intelligence infrastructure reportedly drove computer software and accessory prices up by 28 percent compared to the same period last year, adding another layer of inflation.

The gloomy economic data has intensified pressure on the US Federal Reserve ahead of its upcoming interest rate decision. Wall Street markets reacted negatively to the report, with the S&P 500 and Nasdaq both trending downward as investors weigh the growing likelihood of further monetary tightening.

Source: www.aljazeera.com