US Core CPI Remains Firm for Third Straight Month With 0.3% Gain
A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to achieve their target.
The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month and 3.3% from a year ago, Bureau of Labor Statistics figures showed Wednesday.
Economists see the core gauge as a better indicator of the inflation trend than the overall CPI. That measure, which includes food and energy, rose 0.2% for a fourth month and 2.6% from a year before, marking the first acceleration on an annual basis since March.
The BLS said shelter accounted for over half of the overall monthly advance.
Source : Bloomberg
