US consumer prices rose in September

October 20th, 2011 - 12:38 pm ICT by IANS  

Washington, Oct 20 (IANS/EFE) US consumer prices rose 0.3 percent last month, bringing the 12-month inflation rate to 3.9 percent, the Labour Department said Wednesday.

The core Consumer Price Index, which excludes more volatile food and energy prices, climbed only 0.1 percent in September, while year-on-year core inflation was 2 percent.

Wholesale prices increased 0.8 percent in September and by 6.9 percent over the preceding 12 months, according to official data released Tuesday.

Numbers pointing to possible growth in inflationary pressure could limit the Federal Reserve’s scope for further measures to stimulate the still-sluggish US economy.

Food prices were up 0.4 percent last month, compared with a 0.5 percent rise in August.

Prices for energy, however, advanced 2 percent in September after increasing 1.2 percent the previous month.

Workers’ median weekly pay rose 0.2 percent in September, but was still down 2 percent from October 2010, the Labour Department said Wednesday in a separate report.

Though the US economy created 103,000 net new jobs last month, unemployment remained unchanged at 9.1 percent. The rate has been above 8 percent since February 2009, the longest period of elevated joblessness since 1948.

–IANS/EFE
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