Economy

US Consumer Prices Rise Slightly Less Than Expected In September

US Consumer Prices Rise Slightly Less Than Expected In September”

Gold prices were little changed amid a steady dollar on Friday, halting a five-day rally as investors wait for key US inflation data for clues on the outlook for potential hikes in USA interest rates.

According to the Labor Department, the Consumer Price Index jumped 0.5 percent last month after advancing 0.4 percent in August.

Oil prices fell after the U.S. Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.

U.S. core personal consumption expenditures (PCE) price index, a separate inflation gauge compiled by Commerce Department, increased 1.4 per cent in August from a year ago.

Emerging market stocks were buoyant too as another 0.2 percent rise set their latest 6-year peak. At their September meeting, officials penciled in a rate increase later this year, but some policy makers have expressed concerns about persistently soft inflation.

Gold is sensitive to rising rates because they push bond yields higher, thus reducing the attractiveness of non-yielding bullion, and such yields tend to boost the dollar, making gold more expensive for holders of other currencies. Prices earlier hit $1,297.40, the highest since September 26.

Fed Vice Chairman Stanley Fischer, who departs the central bank this month, said Friday on CNBC that given uncertainty over inflation, "we have to be more careful than full speed ahead" on tightening policy. That inflation gauge has undershot the target for all but two months since early 2012.

"Prior to the data the thinking was the Fed would look through the hurricane impact and find some move in inflation", said Richard Moody, chief economist at Regions Financial Corp.in Birmingham, Ala.

Silver was up 0.9% at $17.32 U.S.an ounce, hitting its three-week high.

Meanwhile, the monthly rise in vehicle sales was 3.6% in September, with unit sales reaching a 12-year high, and sales of building materials and garden equipment were up 2.1% on the month. Traders were looking for a 0.6 percent increase. The groups "Recreation and culture" and "Restaurants and hotels" had the biggest downward impact on the total HICP that measures the change in prices of goods and services, consumed by all households (including foreign households) on the economic territory of the country.

In commodities, oil prices fell as USA fuel inventories rose despite efforts by OPEC to cut production.

Month-on-month, the HICP remained unchanged in September.

Information for this article was contributed by Martin Crutsinger of The Associated Press and by Patricia Laya, Shobhana Chandra and Agnel Philip of Bloomberg News.



Like this

loading...
loading...

Latest


14 October 2017
Anti-Semitic Qatari candidate defeated: French Jewish Audrey Azoulay elected to head UNESCO
Azoulay was a former Minister of Culture and had been nominated for the spot by former French President Francois Hollande. Audrey Azoulay , a French-Jewish woman of Moroccan descent, as its next Director-General.

14 October 2017
MPs turn up heat on Saudi Aramco rule change
Another plan would include listing in Riyadh next year and privately selling a stake in Aramco to one or several cornerstone investors, one of the people said.

14 October 2017
Tom Brady says he will play Sunday against Jets
Best defensive player: The Patriots defense has not played well overall, but defensive end Trey Flowers is having a good season. That's good enough for our trio of experts, all of whom still have sky-high expectations for the veteran signal caller.

14 October 2017
Voya Investment Management LLC Has $3.43 Million Stake in Twitter, Inc. (TWTR)
This particular stock's 5-day moving average is 17.82, its 20-day moving average is 17.51 and its 100-day moving average is 17.56. Market capitalization is calculated by multiplying a company's shares outstanding by the current market price of one share.

14 October 2017
Want to trade efficiently? Check out - Enterprise Products Partners LP (NYSE:EPD)
The Chickasaw Capital Management Llc holds 14.52 million shares with $393.13 million value, down from 14.57 million last quarter. After posting $0.30 EPS for the previous quarter, Enterprise Products Partners L.P.'s analysts now forecast 6.67 % EPS growth.

14 October 2017
Pink's opens up on the struggle to keep her marriage monogamous
The two married in 2006, but split in 2008 only to reconcile in 2009. 'This breakup is not about cheating, anger, or fighting. In a recent interview with The Guardian , Pink opens up about the ups and downs all marriages go through.

14 October 2017
Robbie Brady: Fifa clear Republic midfielder of headbutt on Ashley Williams
Having checked the evidence, Federation Internationale de Football Association said yesterday no action will be taken. The incident occurred in the 61st minute of the Republic's 1-0 win on Monday , which put them into the play-offs.

14 October 2017
Yellowstone supervolcano may errupt sooner than expected
The combine additionally introduced a before rendition of their investigation at a 2016 meeting of the American Geophysical Union. According to The New York Times , she said changes to the crystals indicate there was a fast increase in temperature at the site.

14 October 2017
Tottenham vs. Bournemouth could set Premier League attendance record
The FC crew discuss Spurs' persisting struggles at Wembley and the differences playing there instead of White Hart Lane.

14 October 2017
Pakistani nationals to be given visa for medical treatment: Sushma Swaraj
"It is for the first time in history that two out of four members of Cabinet Committee on Security (CCS) are also women". Ever seen any RSS "shakha" (branch) with women wearing shorts? "In the RSS you will never see women", said Gandhi.