Baku-APA. U.S. consumer prices inched up in October as a decline in gasoline prices was offset by higher prices for food and other goods, the Labor Department reported on Thursday, APA reports quoting Xinhua.
The U.S. Consumer Price Index (CPI), which tracks inflation at the retail level, rose 0.1 percent in October on a seasonally- adjusted basis.
The report said that energy prices, which rose sharply in August and September, declined 0.2 percent in October. Gasoline prices, which had risen 16.6 percent from July to September, dipped 0.6 percent. Meanwhile, food costs increased 0.2 percent for the month following a 0.1-percent increase in September.
Excluding the volatile food and energy categories, the so- called "core" index rose 0.2 percent in October.
Economists monitor core prices to get a sense of broader inflation trends, a key barometer for monetary policy decision- making by the U.S. Federal Reserve.