+86-13430370872  0031-616684504    Sully@suloyal.com

Facebook
Twitter
Google+
LinkedIn
Pinterest

zh中文  enEnglish
  • 首页
  • 关于我们
  • 产品中心
  • 新闻
  • 联系我们
  • 反馈
  • 下载

News Three Hundred and Fourteen: US inflation: Higher fuel costs keep driving consumer prices

首页 news-posts News Three Hundred and Fourteen: US inflation: Higher fuel costs keep driving consumer prices

Consumer prices continued to rise in the US during September fuelled by higher housing and petrol costs, new figures show.

Inflation was 3.7% over the 12 months to September, which is the same rate that was recorded for August.

The US central bank is debating whether it will need to raise interest rates again to stabilize price growth.

While inflation has cooled significantly from last year, it remains higher than the 2% target.

Analysts said the new data from the US Labor Department offered few decisive clues on the next move from the US Federal Reserve.

“The bigger picture is that the trend is still quite encouraging but the fight continues,” said Olu Sonola, head of US economics at Fitch Ratings.

While the annual figure held steady, between August and September inflation cooled from 0.6% to 0.4%.

The increase in housing was the biggest contributor to the increase in the Consumer Price Index, which is the basket of goods and services that the Labor Department uses to measure price increases.

Petrol prices also continued to climb, although at a slower rate than previously.

However, prices for used cars and clothing fell month-on-month while the increase in grocery prices slowed.

The Federal Reserve has already raised borrowing costs sharply and its key interest rate now stands at more than 5.25%, up from near-zero in March 2022.

The rise has hit the public in a number of areas such as sharply higher mortgage rates and more expensive business loans.

The Fed is hoping that the higher rates will encourage saving and reduce business expansion and other activity to cool the economy and ease price pressures.

But while inflation has cooled significantly from more than 9% last year, it remains higher than the Fed’s target.

Officials have warned that they expect rates to remain relatively high for some time, in part because job growth and spending has held up far better than expected.

But they have grown increasingly hopeful they will be able to subdue inflation without triggering a severe downturn.

产品分类

  • Featured Products

最近 文章

  • News Three Hundred and Fifty-three: ‘Red gold’: Why saffron production is dwindling in India
    2023-12-11
  • News Three Hundred and Fifty-two: Why US drivers may be thinking about EVs all wrong
    2023-12-08
  • News Three Hundred and Fifty-one: Belt and Road: Italy pulls out of flagship Chinese project
    2023-12-07

邮件通讯

Welcome to subscribe email newsletter to us, get the lastest products and news information from us!

联系我们

+86-13430370872

0031-616684504

+86-15118589606

Sully@suloyal.com

Mike@suloyal.com

Guangzhou Suloyal Import & Export Co,.ltd

手机网站

Copyright © 2008-2020Guangzhou Suloyal Import & Export Co,.LTD.All Rights Reserved Design by suloyal.com