Consumer prices rose last month for the first time since July, an inflation signal that could help push the Federal Reserve to increase a key interest rate.
The consumer price index increased 0.2% in October after a 0.2% decline the previous month, the Labor Department said Tuesday. The rise, driven by higher food and energy prices, was in line with economists' expectations.
So-called core inflation, which excludes volatile food and energy prices, also rose 0.2%, matching September's increase. Higher prices for housing and medical care, as well as for recreation, airline fares, alcohol and tobacco, pushed up core prices, the Labor Department said.