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- U.S. consumer prices remain unchanged in October
U.S. consumer prices remain unchanged in October
The Labor
Department announced on Thursday the U.S. consumer price index (CPI) was flat m-o-m
in October after increasing 0.2 percent m-o-m in the previous month.
Over the last
12 months, the CPI increased 1.2 percent y-o-y last month, following an unrevised
1.4 percent m-o-m gain in the 12 months through September. This was the lowest
reading since July.
Economists had
forecast the CPI to edge up 0.1 percent m-o-m and to climb 1.3 percent y-o-y in
the 12-month period.
According to
the report, component indexes were mixed. The food index rose 0.2 percent m-o-m
in October, while the energy index and the index for shelter both inched up 0.1
percent m-o-m. At the same time, the index for medical care posted a 0.4-percent
m-o-m decrease.
The core CPI
excluding volatile food and fuel costs also was unchanged m-o-m in October after
an unrevised 0.2 percent m-o-m increase in the previous month.
In the 12
months through October, the core CPI surged 1.6 percent, following a 1.7
percent climb in the 12 months ending September.
Economists had
forecast the core CPI to gain 0.2 percent m-o-m and to jump 1.8 percent y-o-y
last month.
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