Inflation in the United States rose to a 17-month high in September

According to the financial website Investopedia, forecasters said that the annual rate of inflation in the United States could rise to a 17-month high in September as tariffs push up prices. A survey of economists conducted by the Wall Street Journal showed that the CPI report, scheduled for release this Friday, could show that overall prices rose at an annual rate of 3.1% in December. The rise in inflation will highlight the impact of Trump's tariffs, which have risen at an annual rate almost every month since Trump announced the tariffs in April. Despite rising prices, lower rent increases could prevent overall inflation from rising too much. Core inflation is expected to rise at an annual rate of 3.1% in September, unchanged from August. All in all, the inflation increase may not be large enough to prevent the Federal Reserve from cutting interest rates in late October. The Federal Reserve, which cut interest rates by 25 basis points in September to prop up a sluggish job market, is now more focused on the job market than on fighting inflation. "We expect commodity inflation to remain high due to the continued transmission of tariff effects, while easing primary housing costs should help ease service sector inflation," said Wells Fargo economists Sarah House and Nicole Cervi.