What is the current U.S. inflation rate? Visit the Bureau of Labor Statistics We

Question

What is the current U.S. inflation rate? Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/cpi.toc.htm, and select "Consumer Price Index Summary." What month (and year) is summarized? What was the CPI-U for the month? What was the rate of inflation (change in the CPI-U) for the month? How does that rate of inflation compare with the rate for the previous month? Which two categories of goods or services had the greatest price increases for the month? Which two had the lowest price increases (or greatest price decreases) for the month?

Explanation / Answer

Te current US inflation rate is 2.2. The month summarised is september 2017.US consumer prices increased 2.2 percent year-on-year in September 2017, missing market expectations of 2.3 percent and following a 1.9 percent gain in the previous month. Still it was the highest inflation rate since April, as hurricane-related production disruptions at oil refineries in the Gulf Coast area boosted energy prices.

Year-on-year, energy prices jumped 10.1 percent, following a 6.4 percent rise in August, due to hurricane-related production disruptions at oil refineries in the Gulf Coast area.

Main increases were reported for gasoline (19.3 percent from 10.4 percent in August) and fuel oil (15.6 percent from 9.4 percent) while prices rose less for electricity (1.7 percent from 2.3 percent) and utility piped gas service (3.8 percent from 5.4 percent). Additional upward pressure came from food (1.2 percent from 1.1 percent in August), transportation services (3.9 percent from 3.5 percent) and medical care services (1.7 percent from 1.6 percent). Meanwhile, inflation slowed for medical care commodities (1 percent from 2.4 percent in August) and shelter (3.2 percent from 3.3 percent).

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