Economy · 19 d ago
Rick Obst · CC BY 4.0 · Wikimedia Commons
US inflation climbs to 3.7% and Wall Street falls
US inflation in September, year over year
3.7 %
US consumer prices rose 3.7 per cent in September from a year earlier, up from 3.4 per cent in August, the Labor Department said.
What costs more
- Gasoline: up 9.1% from August
- Air fares: up 22% in a year
- Hotels: up 4.4% in a year
- Laptops, phones and gaming devices
Fuel led the rise, pushed up by the Iran war, and demand for AI data centres raised the price of chips and electronics.
Arild Vågen · CC BY-SA 4.0 · Wikimedia Commons
The S&P 500 fell 1.1 per cent on Wednesday, its worst day since July, and the Nasdaq lost 1.9 per cent as AI stocks dropped.
Oct
27
Tuesday
Federal Reserve, Washington
Wholesale prices rose 6.3 per cent, the most since December 2022, adding pressure on the Federal Reserve to raise rates when it meets Oct 27 and 28.
