10/10/2019, 2:31 PM (Source: TeleTrader)
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US consumer price growth holds at 1.7% last month

General inflation was unchanged in September though the monthly changes came lower than expected, the United States Department of Labor said on Thursday. The core index jumped 2.4% with the headline staying at 1.7%. The Federal Reserve targets 2% but it focuses on personal consumption expenditures numbers.

Without food and energy, consumer prices gained 0.1% after rising by 0.3% in August. The overall indicator was flat compared to a move 0.1% higher in the previous month. Shelter and food became more expensive. It offset by energy, particularly gasoline, and used vehicles, possibly indicating weakness in car demand.

The core annual CPI print matches the July 2018 peak, when it was at its strongest mark since September 2008.

Breaking the News / IT