Investing.com – Core consumer price inflation in the U.S. rose in line with expectations in October, official data showed on Wednesday.
In a report, the Bureau of Labor Statistics said that core consumer prices rose by a seasonally adjusted 0.1% in October, broadly in line with expectations, after rising by 0.1% in September.
Year-over-year, core consumer prices rose at an annualized rate of 2.1% in October, matching forecasts, after accelerating at a rate of 2.0% in September.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Consumer prices, including food and energy costs, eased 0.1% last month, after increasing by 0.3% in September and confounding expectations for a flat reading.
Consumer prices increased at annualized rate of 3.5% in last month, below forecasts for a 3.7% increase. Consumer prices rose at a rate of 3.9% in September.
Following the release of the data the U.S. dollar remained higher against the euro, with EUR/USD slumping 0.42% to trade at 1.3483.
Meanwhile, U.S. stock index futures added to losses following the data. The Dow Jones Industrial Average futures indicated a drop of 0.95%, S&P 500 futures fell 1.05%, while the Nasdaq 100 futures declined 0.75%.
In a report, the Bureau of Labor Statistics said that core consumer prices rose by a seasonally adjusted 0.1% in October, broadly in line with expectations, after rising by 0.1% in September.
Year-over-year, core consumer prices rose at an annualized rate of 2.1% in October, matching forecasts, after accelerating at a rate of 2.0% in September.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Consumer prices, including food and energy costs, eased 0.1% last month, after increasing by 0.3% in September and confounding expectations for a flat reading.
Consumer prices increased at annualized rate of 3.5% in last month, below forecasts for a 3.7% increase. Consumer prices rose at a rate of 3.9% in September.
Following the release of the data the U.S. dollar remained higher against the euro, with EUR/USD slumping 0.42% to trade at 1.3483.
Meanwhile, U.S. stock index futures added to losses following the data. The Dow Jones Industrial Average futures indicated a drop of 0.95%, S&P 500 futures fell 1.05%, while the Nasdaq 100 futures declined 0.75%.