In September, consumer prices increased 0.5 percent from August, rising 2.2 percent over the last 12 months. The core rate – all items less food and energy – rose 0.1 percent in September; up 1.7 per.cent over the year, for the fifth consecutive month.
The data provided little in terms of clarity with inflation seemingly still stuck in low gear.
“When it comes to gauging inflation, it could be time to throw the textbook theory out the window as despite unemployment falling there’s little sign of inflationary pressures flaring up,” said OANDA’s Stephen Innes.
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