U.S. Consumer Prices Trail Projections as Used-Car Costs Tumble
Thursday, 10 October 2019 20:04 WIB | ECONOMY |Ekonomi ASCPI Amerika

A key measure of U.S. consumer prices rose by less than expected in September as used-car costs fell by the most in a year, likely bolstering the case for the Federal Reserve to cut interest rates for the third time in three months.

The core consumer price index, which excludes food and energy, increased 0.1% from the prior month, a Labor Department report showed Thursday, below the median estimate of economists. The annual gain of 2.4% matched projections as well as the August increase. The broader CPI was unchanged on the month and up 1.7% annually, trailing projections.

The subdued monthly reading is likely to reinforce investor bets that the Fed will ease policy later in October as the global picture darkens and the trade war worsens. Officials favoring a reduction may see little risk that inflation will jump above the central bank™s price goal and a danger that trade tensions will potentially persist for some time.

Source : Bloomberg

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