{
  "id": 17089732,
  "title": "‘The inflation outlook has become more concerning’: Incomes declined 0.3% and consumer prices jumped 3.6% in September as midterms loom",
  "url": "https://urgent.news/2026/10/29/the-inflation-outlook-has-become-more-concerning-incomes-declined-0-3",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T16:13:16.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/29/incomes-declined-0-3-consumer-prices-3-6-midterms/"
  },
  "original_language": "en",
  "account": "The Federal Reserve is growing increasingly worried about inflation, as recent data reveals that consumer prices surged 3.6% in September compared to a year ago. This is the highest increase since May and is driven largely by soaring gas prices, which have remained above $100 a barrel due to unrest in the Middle East. On a monthly basis, prices also rose by 0.5%, the highest figure since May. While soaring energy costs are keeping headline inflation high, underlying pressures are also intensifying. Meanwhile, core inflation, which excludes volatile energy and food prices, rose 3.1% year-over-year in September, up from 3% in August. Despite strong economic growth in the July-September quarter, with the economy expanding at a 3.4% annual rate, inflation is eroding consumer incomes, with inflation-adjusted incomes declining 0.3% in September. This trend is likely to weigh on consumer demand in the coming quarters, as consumers may resort to using savings or credit to finance spending. The Federal Reserve, responsible for addressing inflation, recently kept interest rates unchanged, but strong growth and persistently high prices could lead to more rate hikes, raising borrowing costs across the economy.",
  "summary": "Polls show that the rise in inflation has soured most voters on the economy, leading them to give President Donald Trump poor marks.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Federal Reserve set to keep interest rates unchanged as markets price in a December hike",
        "url": "https://urgent.news/2026/10/28/federal-reserve-set-to-keep-interest-rates-unchanged-as-markets-price",
        "published": "2026-10-28T14:00:00.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Third-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates",
        "url": "https://urgent.news/2026/10/29/third-quarter-u-s-gdp-increases-a-better-than-expected-3-4-as",
        "published": "2026-10-29T12:33:57.000Z"
      },
      {
        "outlet": "The Hill",
        "title": "Federal Reserve's preferred measure of inflation rose slightly in September",
        "url": "https://urgent.news/2026/10/29/federal-reserves-preferred-measure-of-inflation-rose-slightly-in",
        "published": "2026-10-29T12:36:46.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "IMF says Federal Reserve is ’appropriately’ keeping close eye on data",
        "url": "https://urgent.news/2026/10/29/imf-says-federal-reserve-is-appropriately-keeping-close-eye-on-data",
        "published": "2026-10-29T16:25:06.000Z"
      },
      {
        "outlet": "Daily Maverick",
        "title": "EXPLAINER: Reserve Bank data paint mixed picture as inflation comes knocking",
        "url": "https://urgent.news/2026/10/29/explainer-reserve-bank-data-paint-mixed-picture-as-inflation-comes",
        "published": "2026-10-29T18:40:51.000Z"
      }
    ]
  },
  "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."
}