The Labor Department's September inflation report is out, and gas and diesel are driving the increase.
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Prices jumped 0.6% in one month. Anything over half a point raises eyebrows. Annual inflation — the number most commonly referenced — now sits at 3.7%, the highest since May, when fuel costs from the Iran conflict pushed it to 4.3%.
It's not just the pump. Core inflation, which strips out food and fuel, climbed to 2.6%.
Zooming out to September 2024, prices overall are up 7%. Groceries are up 4.5%, but beef is up 19%.
There's a disconnect with goods as well. Furniture, phones and toys have barely moved, but hygiene and cleaning products are up 16%.
The biggest driver: diesel. After a small increase last year, diesel is now up 66%.
For many Arizonans, paychecks are losing the race. Wage growth has slid from 4.5% to 3%. That's manageable when inflation is low, but six months ago that flipped — and prices have outrun pay ever since.
The ABC15 Affordability Index is up from last month, meaning conditions are less affordable. The Smart Shopper Basket average sits at $16.49. Airfares are also up, mostly due to holiday pricing creeping into the data.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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