Inflation heats up as gas prices surge

Data: Bureau of Labor Statistics; Chart: Courtenay Brown/AxiosU.S. inflation picked up in September as soaring energy prices added to already stubborn price pressures, the Labor Department said on Wednesday.Why it matters: The latest Consumer Price Index shows that the inflation fight is far from over — and makes further Federal Reserve interest rate hikes more likely as Americans struggle with higher costs.By the numbers: CPI rose 0.6% in September from the prior month, with the annual inflation rate at 3.7%, the government said.That compares with a 0.4% monthly increase and a 3.4% annual rat