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CONSUMER Cost In USA have Increased 0.3 PERCENT IN OCTOBER

CONSUMER Cost In USA have Increased 0.3 PERCENT IN OCTOBER

Washington-consumer prices increased by 0.3 percent in October, with the higher cost of gasoline, used cars and housing contributed to the rise.

The labor Department said on Wednesday that the inflation rate jumped 2.5 percent in the last 12 months. Taking into account the rise in tariffs, the average weekly wage increased by 0.9 per cent this year. This is a $8.52 weekly revenue build-up from October 2017.

The Federal reserve aims at inflation of 2 percent, enough to trigger consumer spending and financial recovery without leading to a price rise that has the potential to destabilize the economy. It is assumed that the fed officials at the upcoming meeting in December in the 4th one in this year will increase the main short-term interest rate in the hope of subtracting inflation and delay the financial recovery from overheating, in fact that has the ability to provoke a regression.

But inflation has the opportunity to be more restrained in the coming months, due to the fact that the cost of oil was in the trend below, and the price of the dollar strengthened.

Core inflation, which eliminates volatile energy and food costs, rose 0.2 percent in October. This base figure, which almost all economists consider to be the best measure of core inflation, rose 2.1 per cent from the previous year.

Gas prices rose 3 percent in October, then falling 0.2 percent in September.

Housing-the largest element of the index - increased by 0.3% in October. The cost of used cars and trucks increased by 2.6 percent in the moon. But the cost of food has fallen, and fruits, vegetables, cereals and bakery products have fallen in price.

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