Consumer price index rises 0.2% but inflation is nearer 2%October numbers likely to encourage Fed about strength of domestic economyThe costs of food,gasoline, shelter and medical care rose last month, or yet inflation continues to hurry at low levels ahead of a Federal Reserve assembly in December to consider raising short-term interest rates for the first time in nearly a decade.
The consumer price index rose 0.2% in October after falling the previous two months,the Labor Department said on Tuesday. Prices at the pump advanced 0.4% last month, but gas costs absorb plunged 27.8% from a year ago. Related: Janet Yellen says December interest rate hike is still on the table Continue reading...
Source: theguardian.com