U.S. Inflation Climbs to 3.7% as Gasoline Prices Jump in September

U.S. inflation accelerated in September as gasoline and energy prices climbed, lifting the annual rate to 3.7% and adding to price pressures tracked by markets and policymakers.

The Consumer Price Index rose 0.6% from August, following a 0.4% increase the previous month. Over 12 months, the index was up 3.7%, compared with 3.4% through August.

Gasoline prices jumped 9.1% in September and accounted for more than half of the monthly increase in the overall index. Energy prices rose 5.2% for the month and were 20.4% higher than a year earlier.

Core CPI, which excludes food and energy, rose 0.3% in September and 2.6% over the year, up from 2.4% through August. Overall food prices were unchanged during the month.

The figures show the scale of the fuel price increase but do not establish what caused it. The September CPI release was issued at 8:30 a.m. ET (12:30 p.m. UTC) Wednesday.