US Inflation Climbs to 3.7% in September Driven by Surging Energy and Fuel Costs

U.S. headline inflation accelerated to 3.7% in the year to September from 3.4% in August, topping expectations ahead of upcoming midterm elections. A sharp rise in energy costs drove the increase, with crude oil surpassing $100 per barrel and monthly car fuel prices jumping 9.1%. Energy inflation reached 20.4% year-over-year, alongside pressures from a new 10% global tariff. Market focus has now shifted to the upcoming Producer Price Index report as surging wholesale diesel costs heighten margin compression risks for S&P 500 companies.