ZCZC
BCN-30
US-CONSUMER-PRICE
U.S. consumer prices rise 0.3 pct in October
WASHINGTON, Nov. 15, 2018 (BSS/Xinhua) – U.S. consumer prices rose 0.3
percent in October, the largest increase in nine months.
The Consumer Price Index (CPI) spiked last month after a 0.1 percent
increase in September, according to a report released by the U.S. Labor
Department on Wednesday.
Over the past 12 months, the CPI rose 2.5 percent, picking up from
September’s 2.3 percent increase, according to the department.
The increase in consumer prices was mainly due to a spike in energy
prices, said the department.
The price of gasoline rose 3 percent in October, after a 0.2 percent
decrease in September. Electricity prices also rose 2.3 percent after a 0.5
percent drop in the previous month.
According to the department, the so-called core CPI, which excludes energy
and food costs, edged up 0.2 percent. For the 12 months ending in October,
the core CPI increased 2.1 percent.
The U.S. Federal Reserve uses the core personal consumption expenditures
(PCE) price index as its preferred inflation gauge, which is a separate
inflation gauge compiled by the Department of Commerce.
According to the latest report released by the U.S. Department of
Commerce, the core PCE price index, excluding the volatile food and energy
components, rose 2 percent in September from a year ago, standing at the
central bank’s 2-percent target.
The Fed raised its benchmark interest rate for the third time this year in
September. Fed policy makers also indicated another rate hike in December.
BSS/XINHUA/HR/1450