U.S. Inflation Picks Up on Fuel Costs While Core Gauge Slows

Bloomberg/Patricia Laya/10-13-17

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.

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.

PG View: Should take at least a little wind out of December rate hike expectation sails.

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