Economy

The Labor Department's latest consumer price index data showed that inflation continues to strain consumers' food budgets, with some items seeing notable price increases.

There are nearly 2,000 gas stations that are out of fuel in Florida a day after Hurricane Milton slammed into the state. It's the second major storm in recent weeks.

Hurricane Milton wreaked massive amounts of damage with its high winds and flooding as the storm roared through the central region of Florida overnight.

Weekly jobless claims climbed higher than expected following the devastation of Hurricane Helene on several states, and economists expect Milton to have further impacts.

Inflation rose by 2.4% in the last 12 months, the lowest increase in the last three years.

Mortgage rates rose sharply this week in their biggest jump since April, bringing the average rate for a 30-year fixed note to 6.32% as demand fell for a second straight week.

The Labor Department on Thursday released closely watched inflation data for September that showed the consumer price index rose 2.4% last month, which was slightly above expectations.

Hurricane Milton's landfall in Florida has disrupted gas supplies after many residents stocked up on gas and diesel for their evacuation ride out of the area and to power generators.

FOX Business host Larry Kudlow discusses Art Laffer's contributions to economic policy on Wednesday's "Kudlow."

The Waffle House Index is reporting closures in parts of central and southwest Florida as Hurricane Milton approaches, bringing devastating storm surge and high winds.