Core inflation (excluding food and energy) also rose by 2.6 per cent YoY in the month from 3.1 per cent in the previous reading, according to the Bureau of Labour Statistics (BLS).
Energy prices climbed by 4.2 per cent YoY in the month, making it more expensive for Americans to power and heat their homes with few indications utility bills will go down anytime soon.
Prices of furniture and bedding increased by 3 per cent YoY, while those of apparel went up by 0.2 per cent YoY in the month, a BLS release said.
The White House hailed the inflation figures. “This report is clear: prices are steady and wages are beating inflation,” the White House Council of Economic Advisers wrote on social media.
ALCHEMPro News Desk (DS)
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