Higher shelter costs lift US consumer prices in October
Live Mint* Consumer price index increases 0.2% in October * Shelter accounts for more than half of rise in CPI * CPI advances 2.6% year-on-year; base effects also a factor * Core CPI gains 0.3%; up 3.3% year-on-year By Lucia Mutikani WASHINGTON, - U.S. consumer prices increased as expected in October amid higher costs for shelter such as rents, and progress towards low inflation has slowed since mid-year, which could result in fewer interest rate cuts from the Federal Reserve next year. The report from the Labor Department on Wednesday, which also showed underlying inflation continuing to run a little warmer last month did not change expectations that the U.S. central bank would deliver a third rate cut in December. Effective with the October CPI report, secondary source medical claims data for the private insurance portion of the physicians' services and outpatient hospital services indexes was used. Based on the CPI data, economists' estimates for the October core personal consumption expenditures price index ranged from a 0.2% to 0.3% increase.
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Where inflation accelerated in November – and where it eased
The IndependentUS inflation ticked up last month as some price pressures remain persistent
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