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“- Published US inflation rose by more than expected in the year to September, according to official figures, in the final data release before the midterm elections next month.”

“However, official figures released on Wednesday showed the Consumer Prices Index (CPI) measure of inflation had risen to 3.1% in August from 2.9% in July, pushing it to its highest rate in six months.”

“He added that the strength in the jobs market meant that the latest inflation figures released next week would only need to be moderately above the Fed's target to fuel expectations of a September hike.”

“Analysts said the latest figures could reduce pressure on the US central bank, the Federal Reserve, to raise interest rates next month, despite high inflation.”