US Annual Inflation Down 1.3%, Inflation Calculator Update
October 16, 2009 by goldguru · Leave a Comment
The cost of living in the US rose slower in September, easing concerns of higher inflation which over the past 12 months has fallen more than one percent, according to a Labor Department report released Thursday.
Consumer prices edged higher last month by 0.2 percent, following a 0.4 percent climb in August. Core consumer prices, which exclude volatile food and energy costs, also rose by 0.2 percent.
"Today’s figures won’t shift the argument about inflation risks at the Fed. They don’t show deflation, but nor do they show sufficient inflation pressures to make the doves want to tighten soon," Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts, was quoted on Reuters.
Annual US inflation fell 1.3 percent. Core annual inflation rose 1.5% from September 2008 following the 1.4% increase in the 12 months ending in August.
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