Visit Our Sponsors
The price index for goods advanced 0.7 percent in September, following a 0.4 percent decline in August. The government attributed 30 percent of that increase to a 5.3 percent increase in gasoline prices.
The indexes for diesel fuel, jet fuel, and residential natural gas also moved higher. Energy prices as a whole were up 2.5 percent, after a 0.8 percent decline in August, and food prices rose 0.5 percent, after a 1.6 percent the previous month.
Excluding the food and energy categories, prices rose 0.2 percent last month and, excluding food, energy and trade services, so-called core prices were up 1.5 percent for the 12 months ended in September — the largest annual gain since November 2014 though still short of the Federal Reserve’s 2 percent inflation target.
As The Wall Street Journal reports, weak inflation is one factor that has held back the Fed from raising its benchmark interest rate since December.
Enjoy curated articles directly to your inbox.