Edition: Australia  
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

SEB: Nordic Outlook: Upturn broadening despite political threats Sweden: Industry accelerating as housing market slows

*Our bright global economic picture has been confirmed this autumn, and SEB is again revising its...
GlobeNewswire - Press Releases

Bank of England rate-setters differ over chance of wage pick-up

LONDON (Reuters) - Bank of England rate-setters spelled out their differences on Tuesday over the...
Reuters India - Business

Why interest rates will be lower for longer

Continuing low inflation and a softening property market will ensure that even with likely rate...
The Age - Front Page

Goldman Sachs sees four US rate hikes in 2018

The U.S. economy is heading into 2018 with strong momentum that's likely to boost wages and inflation...
The Age - 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+