October 23rd, 2017

US consumer prices up 0.5 per cent in September led by energy


By Martin Crutsinger, The Associated Press on October 13, 2017.

WASHINGTON – U.S. consumer prices rose 0.5 per cent in September, the largest increase in eight months. The result reflects another big jump in energy prices in the aftermath of Hurricane Harvey, which shut Gulf Coast refineries and caused gasoline prices to spike around the country.

The Labor Department says the September increase in the closely watched consumer price index was the biggest one-month gain since a 0.6 per cent rise last January.

Energy prices shot up 6.1 per cent, led by a 13.1 per cent surge in gasoline. Analysts believe the impact of the hurricane will be temporary.

Core inflation, which excludes volatile food and energy, rose a tiny 0.1 per cent in September.


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