By Jing Fu
Energy prices rebounded and the Consumer Price Index (CPI) rose moderately in October.
The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.4% in October after a 1.8% decline in September and a 0.8% decline in August. Excluding the volatile food and energy components, “core” CPI rose at a seasonally adjusted annual rate of 2.5% in October, similar to the 2.6% in September.
Energy prices have dominated inflation dynamics since mid-2014 when oil prices collapsed. In the previous two months, the sharp declines in energy prices have pulled overall inflation away from the core measure.
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