US consumer prices fall for first time in seven months

  • by Ahmed Mamdouh
  • October 16, 2019, 13:3 AM
  • 138 Views
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Retail sales in the United States saw its first fall in seven months in September, the Commerce Department data released on Wednesday showed.

The volume of retail sales sapped 0.3 percent last month, compared to forecasts of 0.3 percent advance, while the previous reading was revised higher 0.6 percent increase from 0.4 percent soar. From a year ago, retail sales were 4.1 percent up.

“Households cut back spending on motor vehicles, building materials, hobbies, and online purchases. That was the first and biggest drop since February,” the Commerce Department said.

Core retail sales, which excludes automobiles, gasoline, building materials and food services, edged down 0.1 percent from an upwardly revised of 0.2 percent. That also missed came median estimates of 0.2 percent rise.

The dollar index continued to trade lower at 97.93, extending its rise for a second straight session, as of 13:00 GMT.

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