• News Desk

RISE IN GAS, RENTS PUSH U.S. INFLATION IN SEPTEMBER


U.S. consumer prices recorded their biggest gain in five months in September as the cost of gasoline and rents surged, pointing to a steady pickup of inflation that could keep the Federal Reserve on track to raise interest rates in December. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after rising 0.2 percent in August. In the 12 months through September, the CPI accelerated 1.5 percent, the biggest year-on-year increase since October 2014. The CPI rose 1.1 percent in the year to August. "The upward creep of prices weakens any argument against a rate increase in December," said Anthony Karydakis.

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#BREAKINGNEWS #Gasoline #USInflation #LaborDepartment

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