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Consumer prices in the United States increased less than expected in September on the back of a slower pace of increase in rental costs and falling energy prices. The data indicated that underlying inflation pressures eased slightly during the month of September.
Data from the Labor Department showed that headline consumer prices increased 0.1% on the month in September. The slower pace of increase came on the back of inflation rising 0.2% in the month before. During the twelve months to September, headline inflation was seen rising 2.3%. This marked a sharp decline after the annual inflation rate in August advanced 2.7%.
The data missed the median estimates which forecast a 0.2% increase. With the September inflation report coming out slightly below the expectations, it is not expected to impact or change the course of the Fed decision.
The Federal Reserve has previously signaled, at its monetary policy meeting in September that it would hike interest rates one more time in December....
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