U.S. inflation fell for the second consecutive month in September, driven down by plunging gasoline prices even as the cost of food continued to rise. On the other hand, core inflation, which strips out food and energy prices, advanced more than expected.
In September, the Consumer Price Index (CPI) dropped 0.2% after falling 0.1% in August, according to a U.S. Labor Department report released Thursday, October 15.
Energy prices tumbled 4.7% for a second straight monthly drop. Gasoline prices fell further, down 9%. Compared to a year earlier, energy prices are 18.4% lower and gasoline prices are 29.6% lower.
Elsewhere, food prices marked a fourth consecutive monthly rise, up 0.4% last month after two prior matching increases of 0.2% and the 0.3% advance in June. They are 1.6% higher than a year ago.
So-called core consumer prices rose 0.2% in September after gains of 0.1% in both August and July.
More broadly, inflation over the past year was unchanged after two straight gains of 0.2% in the 12 months ended July and August.
Core inflation moved up 1.9% following three prior 12-month matching gains of 1.8%. Core inflation is a key reading monitored by the Federal Reserve. The Fed has a stated inflation target of 2%.
Below are the most-watched consumer prices by category as well as their month-over-month and annual changes, as presented by the Bureau of Labor Statistics (BLS). For the full BLS summary report for August, visit: http://www.bls.gov/news.release/archives/cpi_10152015.htm.
Table of US Inflation / Consumer Prices (%)
|Mar 2015||Apr 2015||May 2015||June 2015||July 2015||August 2015||September 2015||12 Month|
|Food at home||-0.5||-0.2||-0.2||0.4||0.3||0.3||0.3||0.8|
|Food away from home||0.2||0.2||0.2||0.2||.0||0.2||0.5||2.9|
|Gasoline (all types)||3.9||-1.7||10.4||3.4||0.9||-4.1||-9.0||-29.6|
|Utility (piped) gas service||-2.7||-2.6||.0||0.3||-1.4||1.3||-0.3||-12.1|
|All items less food, energy||0.2||0.3||0.1||0.2||0.1||0.1||0.2||1.9|
|Commodities less food, energy||0.3||0.1||-0.1||-0.1||-0.1||-0.1||.0||-0.5|
|Used cars and trucks||1.2||0.6||-0.4||-0.4||-0.6||-0.4||-0.2||-1.7|
|Services less energy||0.2||0.3||0.2||0.3||0.2||0.1||0.3||2.7|
The Consumer Price Index report for October has a scheduled release date of November 17, 2015 at 8:30 a.m. (EDT).