Washington — US consumer prices increased by the most in nine months in October amid gains in the cost of fuel and rents, pointing to steadily rising inflation that will likely keep the Federal Reserve on track to raise interest rates again in December. The labour department said on Wednesday its Consumer Price Index (CPI) rose 0.3% in October after edging up 0.1% in September. In the 12 months through October, the CPI increased 2.5%, picking up from September’s 2.3% rise. Excluding the volatile food and energy components, the CPI climbed 0.2%. So-called core CPI had gained 0.1% for two straight months. In the 12 months through October, the core CPI increased 2.1% after advancing 2.2% in September. Economists polled by Reuters had forecast the CPI climbing 0.3% and the core CPI gaining 0.2% in October. US Treasury yields briefly declined before turning higher after the data while the dollar held its losses against a basket of currencies. US stock index futures were trading higher. I...
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