Investing.com - Consumer price inflation in the U.S. declined for the first time in six months in October, while prices excluding food and energy costs inched up modestly, official data showed on Wednesday.
In a report, the U.S. Department of Labor said that consumer prices fell by a seasonally adjusted 0.1% in October, compared to expectations for a 0.1% increase, after rising by 0.2% in September.
Year-over-year, consumer prices rose at an annualized rate of 1% last month, in line with estimates and slowing from 1.2% in September.
Consumer prices, excluding food and energy costs, inched up 0.1% in October, in line with forecasts. Core consumer prices rose 0.1% in September.
Core CPI increased at annualized rate of 1.7% last month, unchanged from September and in line with expectations.
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.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.15% to trade at 1.3518.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures indicated an increase of 0.1%, while the Nasdaq 100 futures signaled a rise of 0.25%.
In a report, the U.S. Department of Labor said that consumer prices fell by a seasonally adjusted 0.1% in October, compared to expectations for a 0.1% increase, after rising by 0.2% in September.
Year-over-year, consumer prices rose at an annualized rate of 1% last month, in line with estimates and slowing from 1.2% in September.
Consumer prices, excluding food and energy costs, inched up 0.1% in October, in line with forecasts. Core consumer prices rose 0.1% in September.
Core CPI increased at annualized rate of 1.7% last month, unchanged from September and in line with expectations.
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.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.15% to trade at 1.3518.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures indicated an increase of 0.1%, while the Nasdaq 100 futures signaled a rise of 0.25%.