US Inflation Spikes as Middle East Conflict Sends Gas Prices Soaring

US inflation has accelerated as gas prices surged in response to the ongoing conflict in the Middle East. The consumer price index rose by 3.4% last month compared to a year ago, matching July's rate.

The Labor Department reported that costs jumped 0.4% from July, quadrupling the previous month's increase of 0.1%. This uptick in inflation comes as midterm elections approach, with just seven weeks left until voters head to the polls.

Shoppers are feeling the pinch as fuel prices continue to climb, underscoring affordability challenges that are top of mind for many voters.