WASHINGTON — Consumer prices climbed 0.3 percent in October, with higher prices for gasoline, used autos and housing contributing to the increase. The Labor Department said Wednesday that this meas…
Source: finance-commerce.com
Consumer prices rose 0.3% in October 2018, driven by higher prices for gasoline, used autos and housing. The U.S. Labor Department remarked that this inflation measure has jumped 2.5% over the past 12 months. Adjusted for rising prices, average weekly wages have improved 0.9% this year, representing an increase of US$ 8.52 in weekly earnings from October 2017. The U.S. Federal Reserve has kept inflation target at 2% – encouraging consumer spending and economic growth without price hikes that could destabilize the national economy.
