Consumer Prices Boosted by Energy
WASHINGTON (Reuters) - Higher energy costs pushed up U.S. consumer prices in September, the government said on Wednesday in a report set to renew inflation worries in already jittery financial markets.
The Labor Department said its Consumer Price Index, the nation's broadest inflation gauge, rose 0.5 percent in September, following a drop of 0.1 percent in August, as energy costs jumped 3.8 percent.
Leaving out the more volatile energy and food components, so-called ``core'' inflation still rose 0.3 percent in September, up from the previous month's 0.2 percent gain.
Both readings were stronger than analysts' forecasts for a 0.4 percent rise in overall consumer prices and a 0.2 percent increase in core inflation.
The numbers are likely to give pause to the Federal Reserve, which has been closely watching the still-robust U.S. economy for signs that rising energy costs are starting to push up other prices. The central bank's policymakers are scheduled to meet in less than a month to discuss whether any more interest rate rises are needed to keep a lid on inflation pressures. Reut08:38 10-18-00
WASHINGTON (Reuters) - Higher energy costs pushed up U.S. consumer prices in September, the government said on Wednesday in a report set to renew inflation worries in already jittery financial markets.
The Labor Department said its Consumer Price Index, the nation's broadest inflation gauge, rose 0.5 percent in September, following a drop of 0.1 percent in August, as energy costs jumped 3.8 percent.
Leaving out the more volatile energy and food components, so-called ``core'' inflation still rose 0.3 percent in September, up from the previous month's 0.2 percent gain.
Both readings were stronger than analysts' forecasts for a 0.4 percent rise in overall consumer prices and a 0.2 percent increase in core inflation.
The numbers are likely to give pause to the Federal Reserve, which has been closely watching the still-robust U.S. economy for signs that rising energy costs are starting to push up other prices. The central bank's policymakers are scheduled to meet in less than a month to discuss whether any more interest rate rises are needed to keep a lid on inflation pressures. Reut08:38 10-18-00
