U.S. consumer prices rose in September as the cost of gasoline and rents surged, suggesting a steady build-up of inflation pressures that could keep the Federal Reserve on track to raise interest rates in December.
The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after rising 0.2 percent in August.
In the 12 months through September, the CPI accelerated 1.5 percent, the biggest year-on-year increase since October 2014.
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Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.