Excellent gain in consumer prices last month

Published:

On: Oct 2020

According to the report issued by the Labor Department, the United States consumer prices increased moderately in September, indicating sharp gains in the index for utilized vehicles. Last month, the index of the consumer prices increased to 0.2 percent, after growing 0.4 percent in August. The consumer prices for used cars as well as trucks gained to 6.7 percent in September after a gain of 5.4 percent in August. The consumer prices are now increased by 10.3 percent in the last 12 months. The rise in September is the biggest monthly gain since February 1969. 

Overall figure for the past 12 months is climb to 1.4 percent while core inflation, which eliminates energy as well as food that gain to 1.7 percent. Whereas, the energy prices were merged with formal movements in the several categories previous month, but remain defeated over the last twelve months due to the large drops in March and April, which had been analyzed by deficiency of demand as the COVID-19 spread through the United States.

Based on the recent reports, the energy prices recorded a massive gain of 0.8 percent in September, but the prices are still down to 7.7 percent over the last 12 months. Service for energy including electric as well as gas utilities, were increase again in previous month and that are higher for the past twelve months.

While, service for gas utilities gained to 4.2 percent in September and now it is rise to 3.8 percent in the last year. The whole food prices were down previous month but they are 3.9 percent larger for the 12 months that closing in September. Food at home prices dropped to 0.4 percent in September but gain to 4.1 percent prior months. While, food prices away from home gained to 0.6 percent and are rose to 3.8 percent in 2019.