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Inflation expected to have remained in check
Thursday, September 17, 2009 | No comments posted.
WASHINGTON (AP) — A report due out today is expected to show that inflation remained in check last month, as the weak economy prevents retailers and manufacturers from raising prices.
The report comes after the Commerce Department said Tuesday that retail sales jumped in August by the largest amount in more than three years. Labor Department data also showed that excluding volatile energy and food costs, core inflation posted a modest 0.2 percent increase, as measured by the Producer Price Index.
Analysts expect the CPI to fall by 1.7 percent compared with a year ago, mostly due to lower oil and gas prices. That follows a 12-month drop of 2.1 percent in July, the steepest in nearly six decades. Excluding food and energy, prices are forecast to have risen 1.4 percent in the 12 months ending in August.
The report comes after the Commerce Department said Tuesday that retail sales jumped in August by the largest amount in more than three years. Labor Department data also showed that excluding volatile energy and food costs, core inflation posted a modest 0.2 percent increase, as measured by the Producer Price Index.
Analysts expect the CPI to fall by 1.7 percent compared with a year ago, mostly due to lower oil and gas prices. That follows a 12-month drop of 2.1 percent in July, the steepest in nearly six decades. Excluding food and energy, prices are forecast to have risen 1.4 percent in the 12 months ending in August.
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