Inflation in America is being powered by diesel.
\n\nThe price of the fuel, used by farmers and truckers, is up more than 75% since the start of the Iran war in late winter. Diesel costs have become a particular concern for economists, who say that higher diesel fuel costs trickle down into “just about everything.”
\n\nAnd the final government inflation report before November’s pivotal midterm elections will likely reflect how much of a headache it’s become for businesses and consumers.
\n\nThe Bureau of Labor Statistics is set to release its September consumer price index report at 8:30 a.m. Wednesday. It’s expected to show the annual rate of inflation rose to 3.7% from 3.4%, according to a survey of economists from Dow Jones. From August to September, prices are expected to have risen by 0.6%. The monthly jump, if confirmed, would also be one of the largest in years.
\n\nSince August, oil prices have risen to more than $105 per barrel from about $80. The price of regular gas, which most consumers buy, also remains elevated by more than 45% since late February, when the Iran war was launched.
\n\nAs early voting kicks off this week, a higher inflation reading would…
Original source: https://www.nbcnews.com/