Inflation pressures remained modest in September even though gasoline prices edged higher.
The U.S. Labor Department said today that consumer prices rose 0.2 percent last month, matching economists’ expectations. Prices excluding energy and food were also up 0.2 percent, slightly higher than the 0.1 percent increase analysts had forecast.
Over the past 12 months, consumer prices are actually down 1.3 percent, reflecting a severe recession which has kept a lid on price pressures across a wide range of products and services.
The 0.2 percent September rise in the Labor Department’s Consumer Price Index followed a bigger 0.4 percent jump in August. Prices had been flat in July. (AP)
