Rising energy costs pushed consumer prices higher in October, but overall inflation remains tame.
The Labor Department said Thursday that its consumer price index rose 0.4 percent last month, the most since April and up from a 0.3 percent increase in September. Over the past year, consumer prices are up 1.6 percent. That’s the most since October 2014 but below the Federal Reserve’s 2 percent annual inflation target.
Despite low inflation, the Fed has hinted that it might resume raising U.S. interest rate at its next meeting Dec. 13-14.
