US consumer prices post the largest increase in 9 months

The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month after edging up 0.1 percent in September. In the 12 months through October, the CPI increased 2.5 percent, picking up from September’s 2.3 percent rise. The so-called core CPI had gained 0.1 percent for two straight months. In the 12 months through October, the core CPI increased 2.1 percent after advancing 2.2 percent in September. Economists polled by Reuters had forecast the CPI climbing 0.3 percent an


The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month after edging up 0.1 percent in September. In the 12 months through October, the CPI increased 2.5 percent, picking up from September’s 2.3 percent rise. The so-called core CPI had gained 0.1 percent for two straight months. In the 12 months through October, the core CPI increased 2.1 percent after advancing 2.2 percent in September. Economists polled by Reuters had forecast the CPI climbing 0.3 percent an
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US consumer prices post the largest increase in 9 months

U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month.

The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month after edging up 0.1 percent in September. In the 12 months through October, the CPI increased 2.5 percent, picking up from September’s 2.3 percent rise.

Excluding the volatile food and energy components, the CPI climbed 0.2 percent. The so-called core CPI had gained 0.1 percent for two straight months.

In the 12 months through October, the core CPI increased 2.1 percent after advancing 2.2 percent in September.

Economists polled by Reuters had forecast the CPI climbing 0.3 percent and the core CPI gaining 0.2 percent in October.

U.S. Treasury yields briefly declined before turning higher after the data while the dollar held its losses against a basket of currencies. U.S. stock index futures were trading higher.

Inflation pressures are building, partly driven by the lowest unemployment rate in nearly 49 years and strong domestic demand. Annual wage growth recorded its largest increase in 9-1/2 years in October.


Company: cnbc, Activity: cnbc, Date: 2018-11-14
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Gold inches lower on firmer dollar; investors await Fed rate call

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50


Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50
Gold inches lower on firmer dollar; investors await Fed rate call Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
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Gold inches lower on firmer dollar; investors await Fed rate call

Gold prices inched lower on Thursday on the back of a stronger dollar as investors digested the U.S. midterm election results and turned their focus to the Federal Reserve’s monetary policy decision due later in the day.

The Fed is not expected to raise interest rates until its next gathering in December, however market participants are waiting to see whether it offers clues about possible rate increases in December and in 2019.

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion.

“Gold has found support around $1,223. If we see good news from the Fed, we may see a bounce. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures.

Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, traded in a narrow range and was last up 0.2 percent, having touched a more than two-week low in the previous session.

“I suspect gold will ping pong along with the U.S. dollar as traders begin to re-evaluate the current state of the USD,” Stephen Innes, APAC trading head at OANDA in Singapore, said in a note.

Meanwhile, Asian stocks rose to a one-month peak following a post-election rally on Wall Street.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.19 percent to 755.23 tonnes on Wednesday, marking the fourth straight session on declines.

Spot gold still targets $1,211, said Reuters technical analyst Wang Tao.

In other precious metals, silver was down 0.2 percent at $14.54 per ounce.

Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50 an ounce in the previous session.

Platinum was 0.7 percent lower at $866.85 an ounce, after hitting its highest since June 25 at $877.50 an ounce on Wednesday.


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Currencies steady as equities slide; offshore yuan hits 22-month low

Relatively small currency swings reflected how recent data had showed a “loss of momentum in global growth”, Tuxen said, rather than a risk of recession or something serious enough to spook investors. The yen rose as high as 111.82 versus the dollar, then retreated in European trading to settle at 112.275, flat on the day. The Swiss franc gave up all its gains versus the dollar to trade at 0.9982 and was down 0.2 percent against the euro. The euro rose 0.2 percent to $1.1417, up from its two-mon


Relatively small currency swings reflected how recent data had showed a “loss of momentum in global growth”, Tuxen said, rather than a risk of recession or something serious enough to spook investors. The yen rose as high as 111.82 versus the dollar, then retreated in European trading to settle at 112.275, flat on the day. The Swiss franc gave up all its gains versus the dollar to trade at 0.9982 and was down 0.2 percent against the euro. The euro rose 0.2 percent to $1.1417, up from its two-mon
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Currencies steady as equities slide; offshore yuan hits 22-month low

The Japanese yen and Swiss franc gained only briefly on Thursday as currency traders showed little reaction to a wave of selling across stock markets, although China’s offshore yuan hit a 22-month low on worries about an economic slowdown.

The euro recovered from Wednesday’s two-month lows, before the European Central Bank’s monetary policy meeting.

Despite the downturn by stocks, worries about corporate earnings growth and doubts about the global economy, forex investors only tiptoed into the yen and Swiss franc, two currencies historically bought during downturns.

“To a large extent, until today there had been a lack of reaction in the FX markets. We are starting to see this come through,” said Christin Tuxen, FX strategist at Danske Bank.

Relatively small currency swings reflected how recent data had showed a “loss of momentum in global growth”, Tuxen said, rather than a risk of recession or something serious enough to spook investors.

The yen rose as high as 111.82 versus the dollar, then retreated in European trading to settle at 112.275, flat on the day.

The Swiss franc gave up all its gains versus the dollar to trade at 0.9982 and was down 0.2 percent against the euro.

The euro rose 0.2 percent to $1.1417, up from its two-month lows of $1.1378. The dollar index was off 0.1 percent at 96.333.

The Australian dollar, often viewed as a bellwether for global risk, rose 0.2 percent to $0.7074.

However, in a sign that the worries about global growth and particularly in China are beginning to bite, the offshore yuan hit its weakest since the start of January 2017, down 0.3 percent on the day at 6.9668.


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Euro rallies as Italian borrowing costs enjoy big drop

The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries. Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable. The euro has often fallen this year when Italian government bond yields have spiked higher. The euro was also 0.2 percent higher at 1.1487 Swiss francs


The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries. Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable. The euro has often fallen this year when Italian government bond yields have spiked higher. The euro was also 0.2 percent higher at 1.1487 Swiss francs
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Euro rallies as Italian borrowing costs enjoy big drop

The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries.

Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable.

That, together with comments by Deputy Prime Minister Luigi Di Maio that the government was ready to sit down with the European Union amid the ongoing row over Rome’s budget, boosted demand for Italian debt after a sharp selloff in recent weeks.

The euro has often fallen this year when Italian government bond yields have spiked higher.

The single currency rose 0.3 percent to $1.1550, hitting the day’s high and away from recent lows of $1.1433.

The dollar index dropped 0.3 percent to 95.472.

The euro was also 0.2 percent higher at 1.1487 Swiss francs, and gained 0.2 percent versus sterling to 88.26 pence.

Despite the euro’s rally, analysts said it remained at the mercy of Italian developments, with a great deal of uncertainty ahead.

“…A full diary of risk events over the next two weeks and little to argue in favour of support from the ECB (European Central Bank) in the near future, the question remains over how far the yield gap can blow out and how this could translate back into the FX market,” said Simon Derrick, chief currency strategist at BNY Mellon.

Equity markets were largely in positive territory as hopes that China’s tax cuts next year could be worth more than one percent of gross domestic product sparked a rally in Asian shares that fed across to Europe.

That helped offset geopolitical concerns about the rift between Saudi Arabia and the West over the killing of a prominent critic of the kingdom, as well as worries about Britain securing an exit deal with the EU.

Forex markets were largely quiet, although the more positive tone at the start of the week did buoy sentiment.

For the dollar, a hawkish Federal Reserve and signs of continued strength in the U.S. economy remain key drivers.

“Markets will be closely watching the release of the U.S. advance GDP number on Friday for more clarity on the direction of the U.S. dollar,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The dollar rose versus the Japanese yen. The yen fetched 112.71, down 0.2 percent on the day and off a one-month high of 111.61 touched on Oct. 15.

The yen had benefited from rising risk around Brexit, the Italy budget plan and trade tensions, because investors tend to buy the Japanese currency when they are nervous.

The Canadian dollar changed hands at 1.3080 on its U.S. counterpart, within striking distance of a five-week low of 1.3132 hit on Friday on the back of weaker inflation and retail sales.

The Australian dollar, often considered a barometer for global risk appetite, traded at $0.7122, flat on the day.


Company: cnbc, Activity: cnbc, Date: 2018-10-22
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US industrial production rose 0.3% in Sept, vs 0.2% increase expected

The Federal Reserve said on Tuesday industrial production rose 0.3 percent last month after an unrevised 0.4 percent increase in August. Industrial output grew at a 3.3 percent annualized rate in the third quarter after accelerating at a 5.3 percent pace in the second quarter. The Fed said industrial output in September had been held down “slightly” by Hurricane Florence, which drenched South and North Carolina in mid-September. The U.S. central bank estimated the impact of the storm on industri


The Federal Reserve said on Tuesday industrial production rose 0.3 percent last month after an unrevised 0.4 percent increase in August. Industrial output grew at a 3.3 percent annualized rate in the third quarter after accelerating at a 5.3 percent pace in the second quarter. The Fed said industrial output in September had been held down “slightly” by Hurricane Florence, which drenched South and North Carolina in mid-September. The U.S. central bank estimated the impact of the storm on industri
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US industrial production rose 0.3% in Sept, vs 0.2% increase expected

U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter.

The Federal Reserve said on Tuesday industrial production rose 0.3 percent last month after an unrevised 0.4 percent increase in August. Industrial output grew at a 3.3 percent annualized rate in the third quarter after accelerating at a 5.3 percent pace in the second quarter.

The Fed said industrial output in September had been held down “slightly” by Hurricane Florence, which drenched South and North Carolina in mid-September. The U.S. central bank estimated the impact of the storm on industrial production as “less than 0.1 percentage point.”

Manufacturing output increased 0.2 percent in September after rising 0.3 percent in August.

A 1.7 percent increase in motor vehicle production helped to lift manufacturing output last month. Motor vehicle production surged 4.3 percent in August.

There were also strong increases in the production of primary metals, machinery and wood products.

Manufacturing, which accounts for about 12 percent of the economy, is being supported by a strong domestic economy. Momentum is, however, slowing against the backdrop of a strong dollar and cooling global growth, which is restraining exports.

Manufacturing output increased at a 2.8 percent rate in the third quarter after growing at a 2.3 percent pace in the April-June period. Mining production increased 0.5 percent, adding to the 0.4 percent rise in August. Oil and gas well drilling, however, fell for a third straight month in September.

Utilities output was unchanged in September after surging 1.1 percent in the prior month.

Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, was unchanged at 78.1 percent. It is 1.7 percentage points below its 1972-to-2017 average.

Officials at the Fed tend to look at capacity use measures for signals of how much “slack” remains in the economy how far growth has room to run before it becomes inflationary.


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Gold prices rise on softer dollar, Italy budget woes

Gold prices touched a one-week high on Wednesday as the dollar softened and demand for the safe-haven metal got a boost on concerns surrounding Italy’s plans to tackle budgetary deficit. However, the debt fears were tempered on reports that Italy will cut its budget deficit at a faster pace than expected. “Gold has jumped a little bit on populist sentiments from euro zone, Italy deficit concerns, and fall in equities,” said Benjamin Lu, commodities analyst, Phillip Futures. Gold prices are still


Gold prices touched a one-week high on Wednesday as the dollar softened and demand for the safe-haven metal got a boost on concerns surrounding Italy’s plans to tackle budgetary deficit. However, the debt fears were tempered on reports that Italy will cut its budget deficit at a faster pace than expected. “Gold has jumped a little bit on populist sentiments from euro zone, Italy deficit concerns, and fall in equities,” said Benjamin Lu, commodities analyst, Phillip Futures. Gold prices are still
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Gold prices rise on softer dollar, Italy budget woes

Gold prices touched a one-week high on Wednesday as the dollar softened and demand for the safe-haven metal got a boost on concerns surrounding Italy’s plans to tackle budgetary deficit.

Risk appetite was hit after European Union (EU) officials expressed concerns about Italy’s budget plan, which would widen the deficit significantly. The deficit blowout revived fears of the eurozone debt crisis.

However, the debt fears were tempered on reports that Italy will cut its budget deficit at a faster pace than expected.

Spot gold was up 0.2 percent at $1,205.66, as of 0505 GMT. Earlier in the session, the bullion touched a one-week high of $1208.31. It gained 1.3 percent on Tuesday in its biggest one-day percentage gain since Aug. 24.

U.S. gold futures climbed 0.2 percent to $1,209.50 an ounce.

“Gold has jumped a little bit on populist sentiments from euro zone, Italy deficit concerns, and fall in equities,” said Benjamin Lu, commodities analyst, Phillip Futures.

“Overall, our assessment is it’s a knee-jerk reaction. We are seeing a little bit of selling and buying activities supported by equity markets … But it’s still a dollar story. Gold prices are still very susceptible to the dollar.”

The dollar index against a basket of six major currencies was down 0.2 percent.

Gold prices dropped for the past six months, losing over 11 percent, largely due to dollar strength, with the U.S. currency benefiting from a vibrant U.S. economy, rising U.S. interest rates and fears of a global trade war.

“Shorts are nervous of uncertainty around Italy at least and that may well continue with gold above $1,204-$1,206. It may appear that with this new stress the big shorts are more on the defensive,” said Nicholas Frappell, global general manager, ABC Bullion, Australia.

“I expect with gold above $1,200, that $1,213 is the next target, at the top of the Daily Ichimoku cloud, which should prove resistive.”

Gold is used as an alternative investment during times of political and financial uncertainty.

“Going forward, gold prices are subject to the U.S. dollar and how fast Italy’s concerns will be removed or reduced,” said Argonaut Securities analyst Helen Lau.

Meanwhile, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.32 percent to 23,721,571.86 ounces on Tuesday.

Among other precious metals, silver rose 0.7 percent to $14.74 an ounce, hovering close to previous session’s $14.90, its highest in more than a month.

Platinum climbed 0.5 percent to $830.80 per ounce and palladium gained 0.2 percent at $1,053.65.


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Gold firms on bargain hunting but trapped in tight range

Spot gold edged 0.3 percent higher to $1,191.41 per ounce, having fallen to a more than six-week low of $1,180.34 on Sept. 28. “It is unusual that gold is trading higher even with the stronger dollar. People are looking to buy into gold as they believe that prices below $1,200 are indeed attractive,” Julius Baer analyst Carsten Menke said. A higher dollar makes bullion more expensive for holders of other currencies, curtailing demand. Rising interest rates boost the greenback by increasing the o


Spot gold edged 0.3 percent higher to $1,191.41 per ounce, having fallen to a more than six-week low of $1,180.34 on Sept. 28. “It is unusual that gold is trading higher even with the stronger dollar. People are looking to buy into gold as they believe that prices below $1,200 are indeed attractive,” Julius Baer analyst Carsten Menke said. A higher dollar makes bullion more expensive for holders of other currencies, curtailing demand. Rising interest rates boost the greenback by increasing the o
Gold firms on bargain hunting but trapped in tight range Cached Page below :
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Gold firms on bargain hunting but trapped in tight range

Gold edged up on Tuesday as a recent dip to multi-week lows attracted some bargain hunters, but prices were well within recent ranges as the dollar remained on an upward trajectory.

Spot gold edged 0.3 percent higher to $1,191.41 per ounce, having fallen to a more than six-week low of $1,180.34 on Sept. 28. U.S. gold futures rose 0.2 percent to $1,194.10.

“It is unusual that gold is trading higher even with the stronger dollar. People are looking to buy into gold as they believe that prices below $1,200 are indeed attractive,” Julius Baer analyst Carsten Menke said.

A higher dollar makes bullion more expensive for holders of other currencies, curtailing demand.

Analysts said the market was likely to stay relatively range-bound, with no real catalyst to break out on either side.

“One thing in gold’s favor is oil is around $85 and that will actually make investors use gold as a hedge against inflation risk,” Mitsubishi analyst Jonathan Butler said.

Global benchmark Brent crude oil prices held near 4-year highs as markets braced for tighter supply due to U.S. sanctions on Iran. Gold can sometimes be seen as a hedge against oil-led inflation.

Gold has fallen for the past six months, losing 13 percent, largely due to dollar strength, with the U.S. currency benefiting from a vibrant U.S. economy, rising U.S. interest rates and fears of a global trade war.

Market participants are also on the lookout for any additional clues on the pace of interest rate hikes from U.S. Federal Reserve Chairman Jerome Powell, who will be speaking on “The Outlook for Employment and Inflation” before the National Association for Business Economics later in the day.

“In the gold market, there is no evidence that the bulls have gained any strength. Of course, the main economic data which has the ability to move the gold price needle substantially is the upcoming U.S non-farm payrolls on Friday,” Think Markets UK chief markets analyst Naeem Aslam said in a note.

The Fed raised rates last week and said it planned four more increases by the end of 2019 and another in 2020, citing steady economic growth and a robust jobs market.

Rising interest rates boost the greenback by increasing the opportunity cost of holding gold.

Silver was up 0.3 percent at $14.50 per ounce.

Palladium fell 0.2 percent to $1,054, while platinum shed 0.2 percent, to $819.70.


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Gold prices edge up as easing trade concerns hurt dollar

Gold prices nudged up on Thursday as the dollar softened amid easing Sino-U.S. trade tensions and ahead of next week’s U.S. Federal Reserve meeting. Spot gold was up 0.2 percent at $1,203.86, as of 0347 GMT, after rising 0.5 percent in the previous session. “However, there is not much of a safe-haven appeal (for gold) as the market is not packing in a lot of punch to trade war.” However, a spot of weakness in the dollar indicated that worries over trade tensions have eased as the tariffs were se


Gold prices nudged up on Thursday as the dollar softened amid easing Sino-U.S. trade tensions and ahead of next week’s U.S. Federal Reserve meeting. Spot gold was up 0.2 percent at $1,203.86, as of 0347 GMT, after rising 0.5 percent in the previous session. “However, there is not much of a safe-haven appeal (for gold) as the market is not packing in a lot of punch to trade war.” However, a spot of weakness in the dollar indicated that worries over trade tensions have eased as the tariffs were se
Gold prices edge up as easing trade concerns hurt dollar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-20  Authors: timothy a clary, afp, getty images, aly song, matt mcclain, the washington post, bebeto matthews
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Gold prices edge up as easing trade concerns hurt dollar

Gold prices nudged up on Thursday as the dollar softened amid easing Sino-U.S. trade tensions and ahead of next week’s U.S. Federal Reserve meeting.

Spot gold was up 0.2 percent at $1,203.86, as of 0347 GMT, after rising 0.5 percent in the previous session.

U.S. gold futures were up 0.2 percent at $1,210.20 an ounce.

“The risk (sentiment) is sort of flattening, but that’s also taking wind out of the safe-haven appeal of the U.S. dollar (helping gold) … For gold to break $1,210, we need to see the dollar weakening against the emerging market currencies as well as the euro,” said Stephen Innes, APAC trading head, OANDA.

“However, there is not much of a safe-haven appeal (for gold) as the market is not packing in a lot of punch to trade war.”

Earlier this week, Washington imposed 10 percent tariffs on Chinese goods worth $200 billion, while China retaliated with levies on about $60 billion worth of U.S. goods at scaled-back rates.

Investors have been buying the dollar believing that United States has less to lose from the dispute. However, a spot of weakness in the dollar indicated that worries over trade tensions have eased as the tariffs were seen to be at lower levels than some had feared.

The dollar index was hovering near a seven-week low against a basket of major currencies.

Gold dropped about 11.6 percent from a peak in April, affected by the intensifying U.S.-China trade dispute and on rising U.S. interest rates.

Investors are awaiting next week’s Federal Reserve meeting. The U.S. central bank is widely expected to raise benchmark interest rates and shed light on the path for future rate hikes.

“Recent Fed commentary has implied a steady pace of tightening so anything that calls that into question will be positive for gold,” said Nicholas Frappell, global general manager, ABC Bullion, Australia.

Gold has been stuck in a range between $1,215 and $1,187 for the past three weeks, with investors looking for a technical breakout on either side for further moves.

“The market gives the outward appearance of remaining range-bound and hasn’t yet done enough on the upside to alter this appearance. However, over short term, prices would strengthen to$1,211 and a break above could see $1,221,” Frappell said.

Among other precious metals, spot silver rose 0.8 percent to $14.32 an ounce. Palladium climbed 0.2 percent to $1,036.50, hovering near a five-month high of $1,041.70 hit on Wednesday.

Platinum gained 0.3 percent to $823.40, after hitting its highest since Aug. 13 at $826.40 in the previous session.


Company: cnbc, Activity: cnbc, Date: 2018-09-20  Authors: timothy a clary, afp, getty images, aly song, matt mcclain, the washington post, bebeto matthews
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US import prices post largest drop in more than 1-1/2 years

The Labor Department said on Friday import prices fell 0.6 percent last month. In the 12 months through August, import prices rose 3.7 percent, slowing after surging 4.9 percent in July. Excluding fuels and food, import prices fell 0.2 percent last month after slipping 0.1 percent in July. In August, import prices for nonfuel industrial supplies and materials dropped 0.8 percent after falling 1.1 percent in July. The report also showed export prices fell 0.1 percent in August after declining 0.5


The Labor Department said on Friday import prices fell 0.6 percent last month. In the 12 months through August, import prices rose 3.7 percent, slowing after surging 4.9 percent in July. Excluding fuels and food, import prices fell 0.2 percent last month after slipping 0.1 percent in July. In August, import prices for nonfuel industrial supplies and materials dropped 0.8 percent after falling 1.1 percent in July. The report also showed export prices fell 0.1 percent in August after declining 0.5
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US import prices post largest drop in more than 1-1/2 years

U.S. import prices recorded their biggest drop in more than 1-1/2 years in August amid declines in the cost of fuels and a range of other goods, suggesting a strong dollar was curbing imported inflation pressures.

The Labor Department said on Friday import prices fell 0.6 percent last month. That was the largest decline since January 2016 and followed a downwardly revised 0.1 percent dip in July.

Import prices were previously reported to have been unchanged in July. Economists polled by Reuters had forecast import prices falling 0.2 percent in August.

In the 12 months through August, import prices rose 3.7 percent, slowing after surging 4.9 percent in July.

Last month, prices for imported fuels and lubricants fell 3.9 percent, the biggest drop since February 2016, after rising 1.0 percent in July. Food prices rose 0.4 percent in August after tumbling 1.6 percent in the prior month.

Excluding fuels and food, import prices fell 0.2 percent last month after slipping 0.1 percent in July.

The so-called core import prices advanced 1.3 percent in the 12 months through August. The monthly decline in core import prices likely reflects the strong dollar, which has gained more than six percent this year against the currencies of the United States’ main trade partners.

Dollar strength is expected to offset some of the anticipated increase in prices, especially if the Trump administration presses ahead with tariffs on nearly all Chinese imports. Washington has already slapped duties on $50 billion worth of Chinese imports, provoking retaliation from Beijing.

The import price data excludes duties. In August, import prices for nonfuel industrial supplies and materials dropped 0.8 percent after falling 1.1 percent in July. The cost of imported capital goods dipped 0.1 percent.

Imported motor vehicle prices were unchanged in August for a second straight month. The cost of consumer goods excluding automobiles was also unchanged after rising 0.3 percent in July.

Prices for goods imported from China slipped 0.1 percent in August for a second straight month. Prices for Chinese imports gained 0.2 percent in the 12 months through August.

The report also showed export prices fell 0.1 percent in August after declining 0.5 percent in July. Prices for agricultural products rose 0.2 percent last month, lifted by increases in soybean, wheat and corn prices.

Export prices increased 3.6 percent on a year-on-year basis in August after rising 4.3 percent in July.


Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: getty images, andrew caballero-reynolds, afp, sam clune, john gress
Keywords: news, cnbc, companies, prices, 02, largest, fell, imported, drop, post, goods, 112, rose, unchanged, import, month, 01


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US consumer prices increase less than expected in August

U.S. consumer prices rose less than expected in August as increases in gasoline and rents were offset by declines in healthcare and apparel costs, and underlying inflation pressures also appeared to be slowing. The Labor Department said on Thursday its Consumer Price Index increased 0.2 percent last month after a similar gain in July. In the 12 months through August, the core CPI increased 2.2 percent after rising 2.4 percent in July. Economists polled by Reuters had forecast the CPI climbing 0.


U.S. consumer prices rose less than expected in August as increases in gasoline and rents were offset by declines in healthcare and apparel costs, and underlying inflation pressures also appeared to be slowing. The Labor Department said on Thursday its Consumer Price Index increased 0.2 percent last month after a similar gain in July. In the 12 months through August, the core CPI increased 2.2 percent after rising 2.4 percent in July. Economists polled by Reuters had forecast the CPI climbing 0.
US consumer prices increase less than expected in August Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: mike blake
Keywords: news, cnbc, companies, expected, index, cpi, core, inflation, pressures, 02, increased, increase, pce, months, price, prices, consumer


US consumer prices increase less than expected in August

U.S. consumer prices rose less than expected in August as increases in gasoline and rents were offset by declines in healthcare and apparel costs, and underlying inflation pressures also appeared to be slowing.

The Labor Department said on Thursday its Consumer Price Index increased 0.2 percent last month after a similar gain in July. In the 12 months through August, the CPI increased 2.7 percent, slowing from July’s 2.9 percent rise.

Excluding the volatile food and energy components, the CPI edged up 0.1 percent. The so-called core CPI had increased by 0.2 percent for three straight months. In the 12 months through August, the core CPI increased 2.2 percent after rising 2.4 percent in July.

Economists polled by Reuters had forecast the CPI climbing 0.3 percent and the core CPI gaining 0.2 percent in August.

Despite the moderation in price increases last month, inflation pressures are steadily building up, driven by a tightening labor market and robust economic growth.

The Federal Reserve tracks a different inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, for monetary policy. The core PCE price index increased 2.0 percent in July, hitting the U.S. central bank’s 2 percent target for the third time this year.


Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: mike blake
Keywords: news, cnbc, companies, expected, index, cpi, core, inflation, pressures, 02, increased, increase, pce, months, price, prices, consumer


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