Pursuits
Consumer Prices in U.S. Increase for Third Consecutive Month
- Excluding food and energy, costs rise less than forecast
- Firming inflation has laid groundwork for Fed rate increase
U.S. Economy: CPI, Housing Starts, Jobless Claims
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The cost of living in the U.S. rose for a third consecutive month, driven by fuel and housing, indicating inflation is moving closer to the Federal Reserve’s goal.
The consumer-price index climbed 0.4 percent in October from the previous month after a 0.3 percent gain in September, Labor Department figures showed Thursday in Washington. That matched the median forecast in a Bloomberg survey of economists. Excluding volatile food and fuel, the so-called core measure rose 0.1 percent, just below the estimate of 0.2 percent.