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US consumer prices unexpectedly stall in September

US consumer prices unexpectedly stall in September

Consumer prices in the United States unexpectedly stalled in September, as used-car costs slipped by the most in a year, Labor Department data showed on Thursday.

The consumer price index (CPI) stalled, following a 0.1 percent increase in August, coming in below estimates of 0.1 percent rise. The year-on-year reading rose 1.7 percent, trailing analysts’ forecasts.

The weak inflation directly reflected a 1.6 percent slide in used-car prices, while energy prices plummeted 1.4 percent.

Core CPI- excluding volatile food and energy prices- showed a 0.1 percent surge, decelerating from 0.3 percent in August, compared to expectations of 0.2 percent, while were 2.4 percent up in the year through September.

The dollar index continued to trade lower on the daily chart at 98.47, but managed to recover some of its earlier losses when it slumped to a low of 98.35.

Later in the day, eyes will focus on high-level trade talks between China’s delegation and their American counterparts in Washington.

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