Commerce data show US growth accelerating as inflation hits 3.6%

The short version

• The Commerce Department reported 3.4% annualized growth for July through September, up from 2.2% in April through June.[Associated Press]
• Consumer prices rose 3.6% in September from a year earlier, while ABC News reported a federal figure of 3.7%.[Associated Press · ABC News]
• Sources give different gasoline prices for Thursday, with AAA's $4.22 a gallon and AP's $4.23 a gallon.[Associated Press · ABC News]
• President Trump described economic growth as unbelievable at a Mississippi rally, according to ABC News.[ABC News]

Key facts

• The US economy grew at a 3.4% annual rate in July through September, up from 2.2% in April through June, according to the Commerce Department.[Associated Press]
• Consumer prices rose 3.6% in September from a year earlier, up from 3.4% in August, according to the Commerce Department.[Associated Press]
• ABC News reported that prices rose at an annual rate of 3.7% in September, based on federal government data.[ABC News]
• AAA put the average regular unleaded gasoline price at $4.22 a gallon on Thursday, while AP reported $4.23.[Associated Press · ABC News]
• President Trump said at a rally in Corinth, Mississippi, that the economy was experiencing unbelievable growth.[ABC News]
• TD economist Ksenia Bushmeneva wrote that high energy prices are chipping away at purchasing power.[Associated Press]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Strong growth and inflation paints mixed picture of economy days before midterm electionsAssociated Press · Wire: associated-press
• What to know about the US economy as midterm elections nearABC News - Top Stories