A key measure of inflation posts its first gain since in the US since January
The rising costs of housing and medical care drove a modest gain in US consumer inflation in October, according to official figures published on Wednesday. And within the data, one key measure of annual inflation posted its first increase since January, giving a flicker of hope to US central bankers who have long awaited the return of price pressures. The Federal Reserve is widely expected to raise the benchmark interest rate in December, even though monetary policy makers have acknowledged the mystifying weakness of inflation despite falling unemployment and steady job growth. Meanwhile, the US retail sector eked out a token increase in October as sales of petrol and building supplies retreated, even while vehicle sales remained strong, according to a separate government report. The continued gains in consumer spending could support GDP growth in the final quarter of 2017, which has remained robust despite massive disruption from back-to-back hurricanes. The consumer price index (C...
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