WASHINGTON — Higher gas costs drove up U.S. consumer prices in September for the second straight month. But other than energy, there was little sign of inflation.
The Labor Department said Tuesday that the consumer price index rose a seasonally adjusted 0.6 percent last month, matching the August increase. In the past 12 months, prices have increased 2 percent. That’s in line with the Federal Reserve’s inflation target.
Excluding volatile food and energy costs, prices rose just 0.1 percent. In the past year, so-called core prices have increased 2 percent.
“Pump prices are fueling headline inflation, but underlying … trends remain benign,” Robert Kavcic, an economist at BMO Capital Markets, said.
In the West Region of the United States, which includes Colorado, prices increased 0.5 percent in September. Regional commissioner Stanley Suchman said the increase was influenced by higher prices for gasoline and apparel.
