US inflation accelerates to 3.7% in September, driven by fuel costs
US consumer prices rose 3.7% year on year in the 12 months to September, faster than expected, according to BBC Arabic. The acceleration was driven mainly by higher vehicle fuel costs.
Why it matters
Markets worldwide watch US inflation data closely because it shapes interest rate expectations and the strength of the dollar. Since most Gulf currencies are pegged to the dollar, those trends can feed through to borrowing costs in the region.
Background
The consumer price index tracks how fast prices rise for the goods and services households buy, and it is among the gauges most closely watched by monetary policymakers. Gasoline prices are generally one of the more volatile components of the index because they follow movements in energy markets.
This is a brief summary. The full details and context are in the original coverage.
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