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US consumer prices slow in September

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US 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.

[WASHINGTON] US 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 0.2 per cent last month after gaining 0.4 per cent in August.

The CPI advanced 0.6 per 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 1.4 per cent after rising 1.3 per cent in August. Economists polled by Reuters had forecast the CPI climbing 0.2 per cent in September and rising 1.4 per cent year-on-year.

REUTERS

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