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- U.S. consumer price inflation rises 0.2% in October
U.S. consumer price inflation rises 0.2% in October
The U.S. Labor Department released consumer price inflation data on Tuesday. The U.S. consumer price inflation rise 0.2% in October, in line with expectations, after a 0.2% fall in September.
The increase was partly driven by higher shelter and medical care costs. Shelter costs climbed 0.3% in October, while medical care costs rose 0.8%.
Gasoline prices were up 0.4% in October.
Food prices increased 0.1% in October.
On a yearly basis, the U.S. consumer price index increased to 0.2% in October from 0.0% in September, beating expectations for a rise to 0.1%.
The U.S. consumer price inflation excluding food and energy gained 0.2% in October, in line with expectations, after a 0.2% increase in September.
On a yearly basis, the U.S. consumer price index excluding food and energy remained unchanged at 1.9% in October, in line with expectations.
The inflation remains low due to a weak wage growth and a stronger U.S. dollar.
The consumer price index is not preferred Fed's inflation measure.
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