U.S. consumer prices edged up slightly in September, with the overall increase held back by a third straight monthly decline in gasoline prices. The tiny gain was the latest evidence that inflation remains dormant.

Read: BoC sets rate, warns of renewed vigour in household spending

The Labor Department says consumer prices rose 0.1% in September after having falling 0.2% in August. Core prices, which exclude volatile food and energy, also rose 0.1% after no gain in August.

Over the past 12 months, overall prices are up 1.7% and core prices are up a similar 1.7%. Both increases are well below the 2% target for inflation set by the Federal Reserve. The absence of inflationary pressures has allowed the central bank to keep interest rates at record lows to boost the economy.

Also read:

U.S. to adopt new mortgage rules to spur lending

How new investors can buy into an expensive market

Originally published on

Add a comment

You must be logged in to comment.

Register on