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US consumer prices slow in September

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U.S. consumer prices rose for a fourth straight month in September though the pace has slowed amid considerable slack in the economy as it ...

U.S. consumer prices rose for a fourth straight month in September though the pace has slowed amid considerable slack in the economy as it gradually recovers from the COVID-19 recession.

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 PhotoWASHINGTON: U.S. consumer prices rose for a fourth straight month in September though the pace has slowed amid considerable slack in the economy as it gradually recovers from the COVID-19 recession.

The Labor Department said on Tuesday its consumer price index increased 0.2per cent last month after gaining 0.4per cent in August. The CPI advanced 0.6per cent in both June and July after falling in the prior three months as business closures to slow the spread of the coronavirus weighed on demand.In the 12 months through September, the CPI increased 1.4per cent after rising 1.3per cent in August. Economists polled by Reuters had forecast the CPI climbing 0.2per cent in September and rising 1.

 

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