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Consumer prices rise 0.2% in September

U.S. Consumer prices rose slightly in September. Yahoo Finance’s Brian Cheung shares the details.

Video Transcript

[MUSIC PLAYING]

JULIE HYMAN: It's time for "Word on the Street," where we check in with our panelists, find out what stories they are watching. We got the Consumer Price Index out today, showing us the pace of consumer inflation. It remains somewhat quiet, I think it's fair to say, Brian Cheung.

BRIAN CHEUNG: Somewhat quiet is a good way to explain it. So the BLS reporting this morning that the Consumer Price Index came in on a month-over-month basis, if you exclude food and also energy at 0.2% on an annualized basis or year-over-year, that's a 1.7% increase. That's well below the Federal Reserve's 2% inflation target. Keep in mind, CPI also usually tends to overstate inflation relative to the Fed's preferred measure of inflation, that's Core Personal Consumption Expenditures, a different type of statistical print.

So it does show that the disinflationary pressures that the Fed has been telling us about has been basically the case for the month of September. That's likely also to be the case for at least the next few years with the Fed now projecting hitting 2% for a few years. It does seem like the market did react to this-- gold falling off sharply with the lack of inflationary pressures likely hurting the bull case for inflation as a-- or rather gold as an inflation hedge.