US inflation rises to 3.7 per cent
Higher fuel prices put the Federal Reserve under renewed pressure.
There is news on this story (Wednesday, 14 October 2026, 22:28): Wall Street slides on higher rate fears and AI risk
Listen to this article
There is no audio version yet. Request one and an AI voice will read the article aloud.
Read by an AI voice.
.jpg){kind=link}
US consumer prices rose more sharply in September than a month earlier. Inflation came in at 3.7 per cent year on year, according to figures from the US Bureau of Labor Statistics.
The consumer price index rose by 0.6 per cent in September compared with August. In August, the monthly increase was still 0.4 per cent. Year on year, inflation therefore rose from 3.4 to 3.7 per cent.
Energy was the main difference. Petrol prices rose by 9.1 per cent in September and accounted for more than half of the monthly increase in the overall price level. The energy index as a whole rose by 5.2 per cent. Housing costs increased by 0.4 per cent.
Core inflation, which excludes food and energy, also rose. The core index increased by 0.3 per cent in September, the same as in August. That makes it harder to regard the higher inflation solely as a temporary consequence of more expensive fuel.
The figures came as investors were already watching for the Federal Reserve’s next interest-rate move. US shares fell at the opening of trading, while yields on government bonds rose. After the report, investors considered it more likely that the central bank would raise interest rates later this month.
That is not yet a decision by the Federal Reserve. The inflation figures do, however, change the starting position for the meeting: a central bank pursuing price stability will weigh higher energy prices and persistent core inflation alongside developments in employment and economic growth.
For Europe and the Netherlands, the financial markets and the dollar are particularly relevant. Higher US interest rates can attract capital to dollar investments and make financing more expensive. The US figures do not directly indicate how Dutch inflation is developing, but they can affect exchange rates, investor sentiment and the international interest-rate environment.
One story, several perspectives
What is established
- US inflation was 3.7 per cent year on year in September.
- Petrol prices rose sharply and core inflation increased by 0.3 per cent month on month.
- The Federal Reserve has not taken a new interest-rate decision on the basis of these figures.
Left
Arguments The emphasis is on the consequences for low- and middle-income households. From this perspective, higher fuel and housing costs call for measures to protect purchasing power and restraint over interest-rate increases that make borrowing and investment more expensive.
Values Purchasing power, social protection and reducing inequality.
Consequences A tough approach to interest rates can curb inflation, but also slow employment and housebuilding.
Centre
Arguments The Federal Reserve should primarily distinguish between temporary energy effects and broader price pressures. A gradual, data-dependent approach leaves room to monitor both inflation and economic growth.
Values Price stability, predictability and institutional independence.
Consequences Easing too early can prolong inflation; tightening too quickly can cause an unnecessary slowdown in growth.
Right
Arguments Persistent inflation is seen chiefly as a problem of excessive government spending, disruption to energy supplies and insufficient supply in the economy. The central bank must remain credible and should not try to compensate for every loss of purchasing power.
Values Monetary discipline, market forces and responsibility for public finances.
Consequences Higher interest rates may cause short-term pain, but are seen as necessary to protect the dollar and confidence in the economy.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The key figures come directly from the official US inflation report. The description of the market reaction was confirmed by reporting from Reuters and AP; the possible interest-rate consequences are framed as an expectation.
- confirmed US consumer prices rose by 0.6 per cent month on month and 3.7 per cent year on year in September 2026. — Official CPI report from the Bureau of Labor Statistics. source
- confirmed Petrol prices rose by 9.1 per cent and contributed more than half of the monthly increase. — Reported in the same CPI report. source
- confirmed The core index rose by 0.3 per cent in September. — Reported in the official report. source
- confirmed US shares fell at the opening after the figures were released. — Reuters described a lower opening after the inflation report. source
- confirmed The figures increase the likelihood of an interest-rate rise by the Federal Reserve. — Described as a market expectation by Reuters and AP; not as a decision already taken. source
Editor's note
The inflation figures and the market reaction have been confirmed. An interest-rate increase is not yet a decision, but an expectation among investors.Sources
- Consumer Price Index News Release – September 2026 — U.S. Bureau of Labor Statistics
- Inflation worsened last month to 3.7% — Associated Press
- Wall St opens lower after hot CPI data fuels rate-hike bets — Reuters
The story so far
- Wednesday, 14 October 2026, 20:58 US inflation rises to 3.7 per cent (this article)
- Wednesday, 14 October 2026, 22:28 Wall Street slides on higher rate fears and AI risk
More on this in Dutch media
- De Telegraaf — „inflatie verenigde staten”
- Trouw — „inflatie verenigde staten”
- RTL Nieuws — „inflatie verenigde staten”