Consumer prices rose 3.7% in September compared to the prior year, according to a Labor Department report released Wednesday. Energy price increases tied to military conflict contributed significantly to the rise in overall inflation. When excluding volatile energy and food categories, core inflation reached 2.6% in September, a slight increase from August levels.
Following the inflation report, the Social Security Administration announced a 3.6% cost-of-living adjustment for beneficiaries in the coming year. This annual increase is calculated based on price data from July, August, and September. Despite the adjustment, some Social Security recipients have expressed concerns that the increase does not adequately address their financial needs.
Elsewhere, Ukrainian President Volodymyr Zelenskyy indicated plans to resume military operations targeting Russian oil refineries, reversing an earlier decision to comply with a request from President Trump. Zelenskyy stated that he had ordered a temporary halt to such operations earlier in the week but would not continue that restraint. The country’s capacity to conduct these long-range operations may face constraints due to newly imposed restrictions on access to Starshield, a satellite communications system provided by the United States.
In a separate matter, a man who was shot by U.S. Immigration and Customs Enforcement agents in New York filed a petition in federal court contesting the agency’s account of the incident. The individual claims that agents, many of whom were masked, failed to identify themselves before approaching his vehicle with firearms drawn. The filing presents a different account than what the Trump administration has stated regarding the encounter.
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