Investing.com - Consumer price inflation in the U.S. rose in line with market expectations in September, 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 rose by a seasonally adjusted 0.2% in September, meeting forecasts, after rising by 0.1% in August.
Year-over-year, consumer prices rose at an annualized rate of 1.2% last month, in line with estimates and slowing from 1.5% in August.
Consumer prices, excluding food and energy costs, inched up 0.1% in September, below forecasts for a 0.2% increase. Core consumer prices rose 0.1% in August.
Core CPI increased at annualized rate of 1.7% last month, below expectations for a 1.8%.
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 held on to losses against the euro, with EUR/USD adding 0.17% to trade at 1.3769.
Meanwhile, U.S. stock index futures remained higher. The Dow Jones Industrial Average futures indicated a gain of 0.25% at the open, S&P 500 futures pointed to a rise of 0.2%, while the Nasdaq 100 futures indicated an increase of 0.4%.
In a report, the U.S. Department of Labor said that consumer prices rose by a seasonally adjusted 0.2% in September, meeting forecasts, after rising by 0.1% in August.
Year-over-year, consumer prices rose at an annualized rate of 1.2% last month, in line with estimates and slowing from 1.5% in August.
Consumer prices, excluding food and energy costs, inched up 0.1% in September, below forecasts for a 0.2% increase. Core consumer prices rose 0.1% in August.
Core CPI increased at annualized rate of 1.7% last month, below expectations for a 1.8%.
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 held on to losses against the euro, with EUR/USD adding 0.17% to trade at 1.3769.
Meanwhile, U.S. stock index futures remained higher. The Dow Jones Industrial Average futures indicated a gain of 0.25% at the open, S&P 500 futures pointed to a rise of 0.2%, while the Nasdaq 100 futures indicated an increase of 0.4%.