Consumer price growth in US slows to 2.3%

Economy 10/11/2018, 2:30 PM
Consumer price growth in US slows to 2.3%

The seasonally adjusted reading of the consumer price index calculated by the United States Department of Labor showed an increase of just 0.1% for September, compared to 0.2% in the previous month. The inflation measure's annual rate slowed 0.4 percentage points to 2.3%, taking some pressure off the Federal Reserve, as robust growth has spurred fears in the markets of an acceleration in interest rate increases.

The core retail price indicator, which strips out food and energy for their volatility, advanced 0.1% last month and landed at a flat 2.2% year over year.

The shelter item contributed more than half of the net monthly change as it continued to rise, statisticians stressed, against a 0.5% drop in energy prices. The latter's pace of increase came in at 4.8% on the year, compared to 10.2% from August.

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