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Trump Suffers Double Inflation Blow Within 48 Hours as Midterms Loom - Newsweek

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President Donald Trump suffered a second inflation setback in as many days on Thursday after a closely watched key economic indicator recorded its largest monthly increase in more than four years. The Producer Price Index—what producers collect for making goods and services—rose 1.3 percent in September, accelerating from 0.5 percent in August and 0.2 percent in July, the Bureau of Labor Statistics said. It was the largest monthly increase since March 2022. Producer prices were also 6.3 percent higher than a year earlier, the fastest annual increase since December 2022. The report followed Wednesday's Consumer Price Index, which showed prices paid by consumers increasing 0.6 percent during September and 3.7 percent from a year earlier. Taken together, experts said the reports show that inflationary pressure is reaching businesses and households. That could create a difficult political message for Trump and congressional Republicans less than three weeks before the November 3 midterm elections. “These two reports together are a warning that inflation is still working its way through the economy,” Michael Ryan, a finance expert and the founder of MichaelRyanMoney.com, told Newsweek.

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