US September CPI falls short of forecasts
By Alexander Bueso
Date: Thursday 10 Oct 2019
(Sharecast News) - The cost of living in the US was unchanged last month in the wake of a sharp decline in energy costs, although underlying price pressures remained near their recent highs.
According to the Department of Labor, the year-on-year rate of change in the headline US consumer price index was unchanged at 1.7% in September.
That outcome was short of economists' forecasts for an acceleration to a 1.9% pace.
In terms of monthly rates of change, CPI was flat with a 0.1% rise in food prices offset by a 1.4% drop in energy costs.
Within the latter, gasoline prices plummeted by 2.4%, alongside a 0.8% decline in fuel oil costs.
Core CPI meanwhile, which excludes the often volatile categories of food and energy, edged up by 0.1% versus August, leaving the annual rate of increase at 2.4% (consensus: 2.4%), which was the same level as in the month before.
Large declines in prices for used cars and trucks, apparel and medical care commodities nearly offset similarly large gains in the costs of shelter, transportation services and medical care services.
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