US inflation hits 3.7% as wholesale prices rise most since March 2022
US consumer prices rose 0.6% in September, bringing annual inflation to 3.7%, with gasoline up 34% over the year. Producer prices climbed 1.3% monthly and 6.3% annually, the sharpest wholesale increase since March 2022. This marks 67 consecutive months of inflation above the Federal Reserve's 2% target. Despite these figures, markets reacted muted, focusing instead on a postponed date for potential action against Iran, with Brent crude still near $105 a barrel. The article also points to pressure in AI-related stocks and bonds, though the central inflation data remain the core development.
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