Trump Suffers Double Inflation Blow Within 48 Hours as Midterms Loom
Donald Trump faces mounting political pressure ahead of the midterm elections following two major inflation reports released within a 48-hour window. Consumer prices rose to 3.7 percent in September, while wholesale prices recorded their largest jump in more than four years, driven largely by soaring gas prices. The reports counter previous claims from the administration regarding low inflation and present a difficult challenge for the upcoming congressional elections.
Listen to Live Briefing
Real-time synthesized voice briefing · Live Feeds Desk
- ✓ Inflation rose to 3.7 percent in September.
- ✓ The Producer Price Index for final demand rose 1.3 percent in September, accelerating from 0.5 percent in August.
- ✓ Wholesale inflation jumped by the most in more than four years as gas prices soared.
What changed
The Producer Price Index for final demand rose 1.3 percent in September, following a 0.5 percent increase in August, compounding the political fallout from the consumer price report.
Live updates
-
Trump Faces Double Inflation Blow as Consumer and Wholesale Prices Surge
Donald Trump faces mounting political pressure ahead of the midterm elections following two major inflation reports released within a 48-hour window. Consumer prices rose to 3.7 percent in September, while wholesale prices recorded their largest jump in more than four years, driven largely by soaring gas prices. The reports counter previous claims from the administration regarding low inflation and present a difficult challenge for the upcoming congressional elections.
Why it matters
Inflation remains a central political issue as voters prepare to head to the polls for the midterm elections. Economic data showing persistent price pressures directly challenges the administration's messaging on the state of the economy. Energy costs, particularly gasoline, have emerged as a primary driver of the recent acceleration in both consumer and producer price indexes.
What is confirmed
- Inflation rose to 3.7 percent in September.
- The Producer Price Index for final demand rose 1.3 percent in September, accelerating from 0.5 percent in August.
- Wholesale inflation jumped by the most in more than four years as gas prices soared.
What to watch next
- Upcoming voter polling data regarding economic confidence ahead of the midterms
- Further statements from administration officials on energy prices and monetary policy
confidence 100%Sources used for this update (16)
- www.yahoo.com — Yahoo
- CNN — Inflation was hotter than expected in September, rising to 3.7% | CNN Business
- www.newsweek.com — Donald Trump Suffers Inflation Nightmare Just Weeks Before ...
- AP News — Inflation worsened last month to 3.7% in sign that prices remain elevated as midterm elections near
- www.newsweek.com — Correction policies and requests
- flipboard.com — Beloved singer’s wife killed after welcoming robbery suspects with lemonade
- Bloomberg.com — US Producer Prices Rise by Most in More Than Four Years
- AP News — Wholesale inflation jumped last month by most in four years as gas prices soared
- Reuters — US producer prices post largest gain in 4-1/2 years; expensive gasoline boosts retail sales
- www.newsweek.com — Trump Suffers Double Inflation Blow Within 48 Hours as Midterms Loom
- www.dailymail.com — Trump's midterm nightmare deepens as inflation surges and gas ...
- The American Prospect — A Perfect Economic Storm
Community Sentiment: How do you assess this situation?
Voice your perspective · Real-time aggregated sentiment from the Live Feeds community