Consumers Are Still Paying Up for Heating Costs Even With an Inflation Slowdown
- US fuel oil prices rose nearly 20% in October from last month
- Household heating bills posted double-digits gains, again
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Heating costs surged in October even as other measures of US inflation slowed more than expected, offering little relief for consumers grappling with the biggest increase in energy bills in decades.
Prices for fuel oil jumped 20% in October after falling 2.7% in September, according to the US Bureau of Labor Statistics. The rise outpaced increases seen in the rest of the Labor Department’s report Thursday, in which the consumer price index and core prices cooled faster than expected.