Inflation surged in September as U.S. energy costs jumped

U.S. inflation accelerated in September, driven primarily by a sharp jump in energy and gas costs, according to data released Wednesday by the Bureau of Labor Statistics and the Labor Department. Consumer prices faced renewed upward pressure as gas prices surged 9.1% from August, accounting for more than half of the overall monthly rise in inflation.

The recent surge in energy prices, which are up a third compared to a year ago, stems from the start of the war with Iran. This external shock compounded existing price pressures across the U.S. economy.

The latest Consumer Price Index data indicates that the ongoing economic fight against inflation is far from over. Economists note that this persistent inflationary momentum could influence decisions regarding further Federal Reserve interest rate actions.