Consumer prices increase in September

Consumer prices in the U.S increased last month as the prices for gasoline and rent also rose. Yesterday the Department of Labor said the consumer price index rose by 0.3% in September from 0.2% in the month of August. In September economists predicted that the CPI would increase by 0.3%, up by more than 1.5% from the previous year. In May the government revised prices on prescription medicines till August after wrong data had been used to determine prices. The consumer price index does not include costs for food and energy but increased by 0.1% in September and 0.3% in August. However the decrease in CPI is not expected to impact the Fed's decision to raise interest rates at the end of the year's meeting.