US inflation is contained for at least one more month as consumer prices edged slightly higher in September, the government reported Thursday.
Consumer prices rose slightly at 0.2% following a 0.4% increase in August, according to Consumer Price Index data released by the Labor Department. Prices were held in check by falling food costs and moderating energy bills.
"Inflation remains muted," Jennifer Lee, an economist at BMO Capital Markets in Toronto, was quoted on Bloomberg. "There is still much excess capacity to absorb, retailers are still fighting for their share of consumers’ shrinking wallets."
Annual inflation is down 1.3% after the 1.5% reading in August. It was the seventh consecutive monthly decline.
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For more detailed information on September consumer prices, read US Consumer Prices Edge Higher in September, 12-Month Inflation Down 1.3%.