Investing.com - Consumer price inflation in the U.S. fell in line with expectations in September, while prices excluding food and energy costs inched up modestly, official data showed on Thursday.
In a report, the U.S. Commerce Department said that consumer prices declined by a seasonally adjusted 0.2% last month, matching forecasts and following a fall of 0.1% in August.
Year-over-year, consumer prices were flat in September, compared to expectations for a 0.1% decline and after rising 0.2% a month earlier.
Consumer prices, excluding food and energy costs, increased by a seasonally adjusted 0.2%, above expectations for a gain of 0.1%. Core consumer prices rose 0.1% in August.
Core CPI increased at annualized rate of 1.9% last month, compared to expectations for a reading of 1.8% and up from 1.8% in August.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.
EUR/USD was trading at 1.1407 from around 1.1442 ahead of the release of the data, GBP/USD was at 1.5450 from 1.5471 earlier, while USD/JPY was at 118.48 from 118.22 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.32, compared to 94.07 ahead of the report.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures rose 89 points, or 0.53%, the S&P 500 futures tacked on 15 points, or 0.72%, while the Nasdaq 100 futures advanced 36 points, or 0.83%.
Elsewhere, in the commodities market, gold futures traded at $1,186.60 a troy ounce, compared to $1,188.80 ahead of the data, while crude oil traded at $46.24 a barrel from $46.28 earlier.