Wednesday, October 22, 2014

Consumer Prices Rose 0.1% in September

The consumer price index increased 0.1% over the month of September, according to the BLS. The increase was driven primarily by gains in food prices. Year-over-year price growth remained at 1.7%, slightly below the 2.0% Federal Reserve target.

Overall inflation has been constrained by falling energy prices. Overall energy prices shrank 0.7% in September, the third consecutive monthly decline. This decline was driven by a 2.1% drop in fuel oil prices.

Food prices increased 0.3% from the previous month and 3.0% from the previous year. The month-over-month increase was driven by an increase in the price of dairy and related products. Meats, poultry, fish, and eggs was the only category to see monthly price depreciation.

Read the Bureau of Labor Statistics report.

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