(The hill) – Annual inflation rose to 3% in September, as a jump in gasoline and energy prices pushed price growth to its highest level since January.
The Consumer Price Index (CPI) rose 0.3% last month and 3% during the 12-month period ending in September, according to data released Friday by the Bureau of Labor Statistics. (Plus).
The September inflation report, which was delayed due to the ongoing government shutdown, is the first federal economic data released since funding expired on October 1.
Economists expected inflation to reach 3.1% in September after months of slowdown Prices are rising steadilypartly due to Trump’s tariffs, with a monthly gain of 0.4%.
Annual inflation as measured by the Consumer Price Index fell from 3% in January to 2.4% in March, but rose again to 2.9% by August.
Companies are tooEmploying far fewer workersthan has been the case in recent years, pushing the unemployment rate higher and leaving millions of Americans in deeper financial pain.
This combination brought Trump’s ratings for the economy to historic lows. According to an opinion poll, only 38% of voters approve of Trump’s handling of the economy, while 57% of voters said they disapprove of that. Quinnipiac University Survey Released Wednesday. This is the lowest level it has achieved since February 2017.
In a statement on Friday, the White House press secretary said Carolyn Leavitt However, he described the inflation report as “good news for American families,” highlighting that it came in slightly below expectations.
“It is unfortunate that Democrats are using it as leverage to fund health care for illegal aliens. Democrats’ choice to keep the government closed will likely result in an inflation report not being released in October, which will leave businesses, markets, households and the Fed in disarray,” Levitt added.