USA consumer price inflation disappoints

13 October, 2017, 22:37 | Author: Regina Silva
  • Traders work on the floor of the NYSE in New York

Core prices, which exclude food and energy and are more closely watched by economists and the Federal Reserve, rose by a disappointing 0.1% on the month, short of August's 0.2% increase that was predicted to repeat for a second month.

US retail sales recorded their biggest increase in 2-1/2 years in September as demand rose for building materials and motor vehicles in areas hurt by hurricanes Harvey and Irma.

While investors cheered an increase in the USA producer price index (PPI) for last month announced Thursday, inflation concerns were still in focus ahead of consumer price index (CPI) data on Friday after Federal Reserve minutes showed a more guarded view.

"Overall, with temporary factors weighing on core inflation and the activity data still suggesting that economic growth is strong, we still think that the Fed will press ahead and raise rates in December", said Michael Pearce, U.S. economist at Capital Economics.

The Trump administration is seeking to use NAFTA to propose automotive content rules that require the use of North American-made steel, aluminium, copper and plastic resins according to a Reuters report citing three unnamed sources.

Linkin Park releases Carpool Karaoke episode in memory of Chester Bennington
It's a fun 20 minutes of radio singing, with Bennington mentioning at one point, "This is probably the greatest day of my life". Sat in the driver's seat, Bennington challenges Jeong to prove himself as a worthy addition to the rock band.


"Diet Avocados" Have Just Been Discovered
Given how popular avocados are around the world, it would make sense if you thought the fruit could never be improved. Many are sceptical of the diet fruit, and wonder why it was necessary.


Ahead of Diwali, Tamil Nadu government decides to increase liquor prices
"If any theatre demands any amount more than the government fixed ticket price, complaint can be immediately filed", he said. The fate of new movies of top stars like actor Vijay's " Mersal " slated for release for Deepavali next week hung in balance.


European shares rose to their highest in almost four months, helped by corporate earnings updates.

The increase in gasoline prices was the largest since June 2009 and followed a 6.3 percent rise in August.

The data again showed the impact of oil and petrol, with the gasoline (petrol) index increasing 13.1% and accounting for about three-quarters of the total increase. "On more sober reflection, traders are coming to bid up the dollar", said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto.

In a separate report on Friday, the Commerce Department said retail sales jumped 1.6 percent in September likely due to the demand for building materials and motor vehicles in the wake of hurricanes Harvey and Irma. It had fallen earlier after the European Union's chief negotiator said Brexit talks were at an "impasse", ramping up political risks for the currency which is down about 12 percent since last year's EU vote. The 30-year bond was last up 25/32 to yield 2.8144 percent, from 2.853 percent Thursday. Core prices had been expected to rise by 0.2 percent.

The euro was up by 0.3% at 1.1868 against the dollar.

Recommended:



Popular

NeNe Leakes Says She Had a "Breakdown" Following Heckling Controversy
For the latest celebrity entertainment, news and lifestyle videos, subscribe to Us Weekly's YouTube Page . The Great Xscape tour kicks off in November.

Abeona Therapeutics Incorporated (NASDAQ:ABEO) Shorted Shares Increased 21.44% After Market Selling
Breaking down insider in the United States, the Securities and Exchange Commission makes rules concerning insider trading. Cantor Fitzgerald now has a $34.00 price target on the $733.91 million market cap company or 75.44 % upside potential.

Pranab Mukherjee was more qualified to become PM: Manmohan Singh
Kanimozhi and Samajwadi Party President Akhilesh Yadav. "It is absolutely (an account of) how I looked at men and matters as an active political participant", he added.

LeBron James uncertain for Cavs opener against Celtics after aggravating ankle injury
The 32-year-old reiterated that he wasn't fully himself when asked about the condition of the injury. We scrimmaged a lot today, and we put it in early.

Precision Drilling Corporation (PDS)
Ferguson Wellman Capital Management Inc. boosted its stake in Precision Drilling Corporation by 1.0% in the second quarter. Finally, Deutsche Bank AG started coverage on shares of Precision Drilling Corporation in a research note on Tuesday.

Mentor Kenny Smith confident Brendon Hartley will take Formula One deal
Hartley is no stranger to Toro Rosso, having tested for the team back in 2009. "We are really happy to have him back in our team". Should he compete in the race he will become New Zealand's first F1 driver since Mike Thackwell in 1984.

Your Orange Juice is definitely going to cost more
Groves are still under water in southwest Florida and state lawmakers are calling for immediate federal aid for producers. The total grapefruit forecast is for 4.9 million boxes, with whites at 900,000 and colored at 4 million boxes.

Google Assistant can now control Chromecasts from your phone
If you're outside of the USA , you're also going to miss out - for the time being, at least. Google wants you to make video calling one of the easiest things you can do on your phone.

Tim Hortons unveils newest 'drink' - a spicy Buffalo Latte. No, really
The new drink is meant to highlight Tim Horton's new lineup of espresso drinks that include Americanos, cappuccinos and lattes. Fun fact that makes the insane combo slightly more acceptable: both the sauce and Tim Hortons were created in 1964.

Dead man's unsent text with emoji a legitimate will, Australian court rules
The unsent text message was never sent but had important information that convinced the court that the man was using it as a will. Justice Susan Brown said the informal nature of the draft message did not stop it from revealing what the man wanted.