WASHINGTON – U.S. consumer prices edged up a slight 0.1 percent in October, the smallest gain in three months, as energy prices retreated.
The Ministry of Labour, says the small October gain in consumer prices followed increases of 0.5 percent in September and 0.4 percent in August. After two months of large gains in the cost of energy, prices fell 1 percent in October. The gasoline prices decreased by 2.3 percent.
Core inflation, excluding food and energy, rose a modest 0.2 percent in October after a 0.1 percent increase in September. Over the past 12 months, inflation is an increase of 2 percent, while the core increase of 1.8 percent.
Although the current economic expansion is in its ninth year, inflationary pressures remained modest.