{
  "id": 14552069,
  "title": "US consumer prices rise faster, putting Fed rate hike back in focus",
  "url": "https://urgent.news/2026/10/14/us-consumer-prices-rise-faster-putting-fed-rate-hike-back-in-focus",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T21:00:00.000Z",
  "source": {
    "name": "Qatar Tribune Business",
    "slug": "qatar-tribune-business",
    "url": "https://www.qatar-tribune.com/article/259237/business/us-consumer-prices-rise-faster-putting-fed-rate-hike-back-in-focus"
  },
  "original_language": "en",
  "account": "U.S. consumer prices surged in September due to a spike in gasoline costs, prompting concern for President Donald Trump and his Republican Party ahead of midterm elections and reigniting speculation about an interest rate increase later this month. The Consumer Price Index (CPI) increased 0.6% in September, up from 0.4% in August, with annual inflation reaching 3.7%, compared to 3.4% in the prior month. Economists had predicted a 0.6% month-over-month rise and a 3.6% annual increase. Gasoline prices jumped 7.1% in September, according to Energy Information Administration data.\n\nThe report came as consumer sentiment deteriorated further and Trump's approval ratings tumbled, largely due to growing discontent over the rising cost of living. A Reuters/Ipsos poll found 78% of Americans blamed Trump's policies, including tariffs and the US-Iran conflict, for the price hikes. Core CPI, which excludes volatile food and energy costs, rose 0.3% in September, matching the 0.3% gain in August. Over the past year, core CPI climbed 2.6%, up from 2.4% in August.\n\nThe Federal Reserve previously raised its key interest rate by 25 basis points to the 3.75%-4.00% range in September, marking the first increase in three years and signaling more rate hikes to come. Prior to the CPI report, financial markets believed there was a 22% chance of a rate increase at the upcoming October 27-28 meeting. However, the odds of a rate hike this month dropped after weaker-than-expected September payroll data and softer-than-anticipated PCE inflation for July and August. Economists had anticipated the Fed to raise rates in December.\n\nThe CPI report was closely watched by millions of retirees and Social Security beneficiaries, as the agency uses CPI data to calculate annual cost-of-living adjustments for their benefits in 2027. The Senior Citizens League estimated a 3.5% COLA increase for 2027, up from 2.8% in 2026, which would boost the average monthly Social Security payment by $67.90 to $2,007.",
  "summary": "AgenciesUS consumer prices accelerated in September amid a surge in gasoline costs, dealing another blow to President Donald Trump and his Republican Party ahead of the November 3...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}