The Consumer Price Index (CPI) for all items in the United States rose by 0.9% in October in comparison to the same period the year before, beating market expectations, the US Bureau of Labor Statistics revealed in its report published on Wednesday, APA reports citing Teletrader.
On a monthly level, the figure went up by 0.9%, also exceeding analysts' projections.
The expansion was pushed by growths in various sectors, most notably energy, shelter, food, used cars and trucks, and new vehicles. The prices of energy saw a monthly increase of 4.8%, with the fees for gasoline going up by 6.1%. The costs of food gained 0.9%. Meanwhile, the index for all items less food and energy advanced by 0.6% month-on-month.