Edition: United States  
One News Page
“Probably the fastest-access news portal in the world”
> >

Rising US inflation makes December interest rate hike more likely

Duration: 00:45s - Published: < > Embed
News video: Rising US inflation makes December interest rate hike more likely

Much more expensive fuel was one of the reasons that US consumer prices recorded their biggest gain in five months in September – up 1.5 percent year-on-year and 0.3 percent higher compared to August.

That was partly because last year’s lower energy prices dropping out of the calculation but it also suggested increasing demand.

Rents were also up, recording their biggest increase in nearly 10 years.

But food prices were unchanged in September for the third month running and the cost of food consumed at home declined for a fifth straight month.

US headline #inflation rises to the highest level since October 2014! pic.twitter.

com/pa5esF09Z6— jeroen blokland (@jsblokland) October 18, 2016 The numbers point to a steady pickup of inflation that could keep the Federal Reserve on track to raise the cost of borrowing in December.

“The upward creep of prices weakens any argument against a rate increase in December,” said Anthony Karydakis, chief economic strategist at Miller Tabak in New York.

“The economy is close to full employment and prices are starting to respond to that reality.

” Fed Vice Chair Stanley Fischer said on Monday that the U.S.

central bank was “very close” to its inflation and employment targets.

The Fed lifted its benchmark interest rate last December and has held it steady since because of persistently low inflation. .

Share on
Share on
Post on 
Share by

Recent related news

Fed's Harker Stands by Call for Rate Hike Next Month

A Federal Reserve official said on Monday he expects to back an interest rate hike next month despite...
Newsmax - Money

India's Sovereign Bond Market In Trouble As Inflation Rebound Surprises

India's Sovereign Bond Market In Trouble As Inflation Rebound Surprises*Another day and another Indian inflation reading comes in “hotter” than markets expected....
Zero Hedge - Markets

Dallas Fed chief ‘actively considering’ December rate rise

Kaplan says tight US job market weighing on decision despite stubbornly low inflation
FT.com - Front Page

You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2017 One News Page Ltd. All Rights Reserved.  |  About us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Privacy Policy  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Help  |  Contact us  |  DMCA / Content Removal
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter   FIND us on Google+