Newsroom
October 22, 2014
CPI grows 1.7% in past year
The overall consumer price index grew 1.7 percent in the past year, while overall consumer prices grew 0.1 percent in September, which NAFCU Chief Economist and Director of Research Curt Long says will encourage the Federal Reserve to keep interest rates low.
Long analyzed data from the Bureau of Labor Statistics for a NAFCU Macro Data Flash and found that the overall CPI growth for the year was consistent with August's rate. "Core CPI increased 0.1 percent in September as rent and medical care costs increased," Long wrote. "The lack of inflationary pressure will encourage Fed policymakers to maintain historically low interest rates."
The core price growth of 0.1 percent excludes food and energy costs: energy prices decreased 0.7 percent in September following a 2.6 percent decrease in August, while food prices increased 0.3 percent in September after an increase of the same amount in August. Energy prices decreased 0.6 percent from last year, and food prices increased 2.9 percent since last year.
Long analyzed data from the Bureau of Labor Statistics for a NAFCU Macro Data Flash and found that the overall CPI growth for the year was consistent with August's rate. "Core CPI increased 0.1 percent in September as rent and medical care costs increased," Long wrote. "The lack of inflationary pressure will encourage Fed policymakers to maintain historically low interest rates."
The core price growth of 0.1 percent excludes food and energy costs: energy prices decreased 0.7 percent in September following a 2.6 percent decrease in August, while food prices increased 0.3 percent in September after an increase of the same amount in August. Energy prices decreased 0.6 percent from last year, and food prices increased 2.9 percent since last year.
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