Inflation rises again days before midterms
The gist
US consumer prices rose 3.6% year-over-year in September, up from 3.4% in August.
Voters rank affordability as the top midterm issue.
How it unfolded
- Sep 2026Consumer prices rose 3.6% from a year earlier in September, up from 3.4% in August; monthly prices climbed 0.5%, the highest since May. Core inflation rose 3.1% year-over-year.
- Sep 2026The savings rate fell to 3.8%, its lowest in four years, and after-tax incomes adjusted for inflation slipped from August to September.
- Sep 2026The Fed raised rates to a range of 3.75% to 4%, its first hike since 2023.