WASHINGTON - Consumer prices inched up 0.1% in September as the core rate was flat for the month but over the last 12 months increased 0.8%, the smallest increase in 49 years, the Labor Department reported today.
The core rate over the last 12 months had been a 0.9% increase for the last five months. The September 0.8% increase was the smallest since March 1961. Total consumer prices increased 1.1% for the year ending in September.
Economists expected September consumer prices would increase 0.2% and core prices would edge up 0.1%, according to the median estimate from Thomson Reuters.
Energy prices gained 0.7% in September following a 2.3% increase in August. Gasoline prices rose 1.6% for the month.
Among core goods and services, which were unchanged for the second month in a row, shelter prices were unchanged in September and rent prices increased 0.1%. Medical care prices rose 0.6%.
Real average hourly earnings fell 0.1%, the second decline in three months.
