Consumer Prices Rise 0.1% in September
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Consumer prices were up slightly in September driven by the increased cost of food and energy, but the numbers are still lower than policymakers would like to see.
The bureau of labor statistics announced Friday that the Consumer Price Index, a key measure of inflation, increased 0.1 percent month over month. Economists had been expecting the CPI to rise 0.2 percent last month.
The core CPI, which strips out the impact of food and energy, remained flat in September. Economists had expected the core CPI to inch up 0.1 percent, after rising the same amount in August.
Federal Reserve Chairman Ben Bernanke said shortly before the report that infaltion will likely remain subdued for some time.
"Inflation is running at rates that are too low" Bernanke warned. "The risk of deflation is higher than desirable."
The bureau of labor statistics announced Friday that the Consumer Price Index, a key measure of inflation, increased 0.1 percent month over month. Economists had been expecting the CPI to rise 0.2 percent last month.
The core CPI, which strips out the impact of food and energy, remained flat in September. Economists had expected the core CPI to inch up 0.1 percent, after rising the same amount in August.
Federal Reserve Chairman Ben Bernanke said shortly before the report that infaltion will likely remain subdued for some time.
"Inflation is running at rates that are too low" Bernanke warned. "The risk of deflation is higher than desirable."
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