US Inflation Rate Stable at 1.7%
US annual inflation rate was recorded at 1.7 percent for the third consecutive month in October, as fall in energy prices was enough to offset higher food and shelter cost. Prices remained unchanged compared with the previous month.
Year-on-year energy prices declined 1.6 percent as cost of gasoline and fuel oil dropped by 5 percent and 6.5 percent respectively. Food cost increased by 3.1 percent. The index for all items less food and energy went up by 1.8 percent following a 1.7 percent rise in the previous month. Cost of services less energy increased by 2.5 percent with shelter and transportation index going up by 3 percent and 1.8 percent respectively.
On a monthly basis, consumer prices were unchanged in October, following a 0.1 percent increase in the previous month.Energy prices fell 1.9 percent, its fourth consecutive decline, as cost of gasoline and fuel oil dropped by 3 percent and 4 percent respectively. In contrast, food cost went up by 0.1 percent, its smallest increase since June. The index for all items less food and energy rose by 0.2 percent. Cost of services less energy increased by 0.3 percent with shelter and transportation cost going up by 0.2 percent and 0.8 percent respectively.
11/20/2014 2:50:42 PM