Fed, US and rates
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By Amanda Cooper and Chibuike Oguh NEW YORK/LONDON, Oct 14 (Reuters) - The dollar rose, US Treasury yields jumped and Wall Street stocks fell on Wednesday after data showed US consumer prices rose more than expected last month,
The pace of price rises increased to 3.7% in the year to September, driving by higher motor fuel costs.
US inflation jumped to 3.7 per cent in September as the war in Iran drove a rebound in fuel prices, piling pressure on many Americans ahead of November’s midterm elections. Wednesday’s annual consumer price index figure was up from 3.4 per cent in August and ahead of the 3.6 per cent expected in a Bloomberg poll of economists.
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Economists divided on Fed rate hike as inflation creates uncertainty before US midterm elections in a tense market.
By Lucia Mutikani WASHINGTON, Oct 13 (Reuters) - US 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 midterm elections and putting an interest rate increase later this month back on the radar.