Friday, 24 November 2017
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
U.S. Inflation Picks Up on Fuel Costs While Core Gauge Slows
Friday, 13 October 2017 19:57 WIB | UNITED STATES |Ekonomi AS

A spike in energy prices in the aftermath of Hurricane Harvey boosted the U.S. cost of living by the most since January, while inflation excluding food and fuel was below estimates, a Labor Department report showed Friday.

Highlights of Consumer Price Index (September) :

Consumer price index rose 0.5% m/m (est. 0.6% rise) after 0.4% advance the prior month; up 2.2% y/y (est. 2.3%).

Excluding food and energy, so-called core CPI rose 0.1% m/m (est. 0.2% rise), following 0.2% gain; up 1.7% y/y (est. 1.8%).

Shelter index up 0.3% after 0.5% gain; prices fall for new and used vehicles, household furnishings and operations.

Wireless-phone service prices rose 0.4 percent, first gain after 14 straight declines.

While economists expected an overall pickup in price gains in the aftermath of Hurricanes Harvey -- energy costs rose by the most since June 2009 -- the details suggest any broader acceleration in U.S. inflation may need more time to gain traction.

Shelter, which accounts for about one-third of CPI, gave less of a boost to inflation than in August, when the index was affected by outsize swings in hotel rates. Auto prices also dragged down inflation.

The latest data could give some Federal Reserve policy makers pause as officials debate whether to raise interest rates one more time this year, an outcome investors have seen as likely after the Fed generally judged the inflation slowdown this year to be temporary. A separate Commerce Department consumer- inflation measure, preferred by the Fed, is running below the central bank's 2 percent target, with a 1.4 percent gain in the 12 months through August.

At the same time, a Commerce Department report also released Friday showed U.S. retail sales rose in September by the most in more than two years, as Americans replaced storm-damaged cars and paid higher prices at the gasoline pump. Excluding autos and gas, sales still increased at the second-fastest pace since January.

The Labor Department said Hurricane Irma had a œsmall impact on data collection for the CPI in September, affecting some areas in Florida.

 

Source: Bloomberg

RELATED NEWS
Empire State index retreats in November from three-year high...
Wednesday, 15 November 2017 21:08 WIB

Indeks Empire State turun 10,8 poin menjadi 19,4, bergerak mundur dari tertinggi tiga tahun namun masih menunjukkan lingkungan manufaktur yang solid di wilayah New York. Setiap pembacaan di atas nol ...

Core CPI picks up while retail sales gain 0.2% in October...
Wednesday, 15 November 2017 21:01 WIB

Harga konsumen dikurangi energi dan makanan naik sedikit di bulan Oktober sementara penjualan ritel naik sedikit, menurut data pemerintah yang dirilis pada hari Rabu. CPI keseluruhan naik 0,1% secara...

Wholesale Prices in U.S. Increased More Than Forecast in October...
Tuesday, 14 November 2017 21:01 WIB

Harga grosir di AS naik lebih dari perkiraan pada bulan Oktober, didorong oleh margin yang lebih tinggi di pengecer bahan bakar, menurut laporan dari Departemen Tenaga Kerja pada hari Selasa di Washin...

Applications for Jobless Benefits Show Steady U.S. Job Market...
Thursday, 9 November 2017 20:50 WIB

Bahkan dengan kenaikan pada minggu lalu, tingkat pengajuan untuk tunjangan pengangguran di AS mengindikasikan permintaan pekerja yang kuat, menurut data dari Departemen Tenaga Kerja hari Kamis. Rata-r...

U.S. 261,000 jobs in October; unemployment 4.1%...
Friday, 3 November 2017 19:42 WIB

Perekonomian AS menambahkan 261.000 pekerjaan pada bulan Oktober seiring pulihnya lapangan kerja dari kenaikan tipis pada bulan sebelumnya menyusul badai Harvey dan Irma. Ekonom yang disurvei oleh Ma...

POPULAR NEWS
This Is Gold's Best Chance To Break $1,300 - Saxo Bank

Gold traders need to be patient as the market...

Dollar falls to 4-week low as Fed minutes cast doubt on 2018 rate hikes

The U.S. dollar fell to a four-week low against...

Gold Crawls Higher, Bucking Inverse Dollar Relationship

Gold and silver prices ticked higher Tuesday,...

LATEST NEWS
Hong Kong, Shanghai stocks up after sell-off

Hong Kong stocks bounced back on Friday from the previous day's losses, while Shanghai edged up after a sharp drop, but traders remained on edge over China's crackdown on speculative investing. The Hang Seng Index added 0.53 percent, or 158.38...

Stocks in Europe Edge Higher; Dollar Halts Decline

Stocks in Europe gained, while the dollar halted three days of losses as Treasury yields rose in sluggish post-Thanksgiving trading. The Stoxx Europe 600 Index increased 0.1 percent as of 8:07 a.m. London time. The Stoxx Europe 600 Index...

USD/JPY clings to strong recovery gains near mid-111.00s

Having defended the 111.00 handle in the previous session, the USD/JPY pair caught some strong bids and staged a goodish recovery move this Friday. The FOMC minutes-led US Dollar selling pressure has now abated and prompted some short-covering on...