FILE PHOTO: FILE PHOTO: Shoppers are seen wearing masks while shopping at a Walmart store in Bradford, Pennsylvania, U.S. July 20, 2020. REUTERS/Brendan McDermid/File Photo/File Photo
A 6.7% jump in the prices of used cars and trucks accounted for most of the increase in the CPI last month. That was the biggest gain since February 1969 and followed a 5.4% advance in August. There were also increases in the costs of new vehicles and recreation. But prices for motor vehicle insurance, airline fares and apparel fell.
The Fed’s preferred inflation measure, the core personal consumption expenditures price index rose 1.6% in the 12 months through August. September’s core PCE price index data is scheduled to be released at the end of this month.Last month, gasoline prices edged up 0.1% after rising 2.0% in August. Food prices were unchanged after nudging up 0.1% in August. The cost of food consumed at home fell 0.4%, declining for a third straight month.
'Inflation slowing.' Gee, I wonder why.
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