US inflation is above target in the third quarter of 2025

VTV.vn - The US Treasury Department said on November 3 that inflation remained higher than the 2% target in the third quarter, despite President Donald Trump's statements that "there is no more inflation".

People shop at a supermarket in Millbrae, USA. (Photo: THX/TTXVN)

Bureau of Labor Statistics data showed the consumer price index rose 3% in September from a year earlier, marking the first consecutive monthly increase since April.

In its newly released “Economic Statement,” the Ministry of Finance said food prices continued to rise, especially beef, due to reduced supplies, while consumer spending remained solid. However, the impact on low-income groups was stronger as wages rose only slightly, about 4.1% compared to the 3% inflation rate.

Regarding the job market, the Ministry of Finance assessed that the situation remained “relatively stable”, but the pace of job creation had slowed down, averaging about 100,000 jobs per month lower than at the beginning of the year. Part of the reason was attributed to the reduction in population growth related to the deportation of illegal immigrants.

Despite the labor market slowdown, the Treasury said there were no signs of slowing economic growth. GDP grew 3.8% in the second quarter, while third-quarter data was delayed due to the government shutdown. The Treasury also warned that public sector employment was down and the impact of artificial intelligence could cause disruptions in the coming period.

The report concluded that the US economic outlook still faces both positive and negative risks, but the administration will continue to closely monitor the labor market and promote policies to protect consumers.

Source: https://vtv.vn/lam-phat-my-dang-vuot-muc-muc-tieu-trong-quy-iii-2025-100251104082859279.htm