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Consumer Price Index Stats Revealed
According to the U.S. Labor Department, the core Consumer Price Index (CPI), which excludes volatile energy and food prices, rose 0.2% in October, primarily due to higher prices for new and used vehicles. Additionally, firming prices emerged in airfares and medical costs.
Overall CPI increased .03% on rising energy prices. It is still down .02% for the past 12 months. While the monthly increase was slightly more than economists’ forecasts, a Federal Reserve official stated that the central bank could keep its key interest rate near zero until 2012, indicating that inflation is still not a primary concern.