US Consumer Prices Rise 3.7% as Trump Faces Midterm Heat Over 7.4% Mortgages
Updated
Updated · Fox News · Oct 20
US Consumer Prices Rise 3.7% as Trump Faces Midterm Heat Over 7.4% Mortgages
3 articles · Updated · Fox News · Oct 20
Summary
3.7% annual inflation and a 0.6% monthly CPI rise in September have sharpened voter scrutiny of Trump and Republicans two weeks before the 2026 midterms.
9.1% gasoline inflation led the monthly jump, while diesel costs, Strait of Hormuz shipping disruption tied to the Iran war, and damage to Russian energy infrastructure tightened fuel supplies.
4.4% higher electricity prices, 5% higher piped natural gas costs and a 3.2% rise in shelter prices extended the squeeze, even as grocery prices dipped 0.1% in September.
2.9 percentage points of consumer-goods inflation came from tariffs in place through February, according to a New York Fed study, adding to an affordability debate the White House says will strengthen manufacturing.
$417,500 existing-home prices and a 7.4% average 30-year mortgage rate underscore how housing costs could shape whether voters believe Republicans improved their finances.