World News | US Consumer Prices Unchanged in October, Lowest in 5 Months
Get latest articles and stories on World at LatestLY. US consumer prices were unchanged in October, the lowest reading in five months and an indication that a price spike over the summer is beginning to fade as coronavirus cases begin to spread.
Washington, Nov 12 (AP) US consumer prices were unchanged in October, the lowest reading in five months and an indication that a price spike over the summer is beginning to fade as coronavirus cases begin to spread.
The Labour Department reported Thursday that the flat reading in October followed a gain of 0.2 per cent in September.
Core inflation, which excludes volatile food and energy costs, also showed no changed in October, another indication that inflation remains well-behaved.
Over the past 12 months, overall inflation is up a moderate 1.2 per cent while core inflation is up 1.6 per cent.
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Both readings are well below the Federal Reserve's 2 per cent target.
Used car prices, which had been surging, retreated slightly in October, dropping 0.1 per cent after a 6.7 per cent jump in September which had been the largest one-month gain in 51 years.(AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)