WASHINGTON — Consumer prices edged up a slight 0.1
The Labor Department said Thursday that the September gain in its closely watched consumer price index followed a 0.2
Inflation has been on a slight rise this year after a prolonged stretch when prices kept falling below the 2
Core inflation, which excludes volatile energy and food costs, rose 0.1
The Federal Reserve has raised interest rates three times this year and
But President Donald Trump has stepped up his criticism of the Fed's rate hikes, calling them unwarranted. Rising interest rates were one of the factors blamed for the big sell-off on Wall Street this week.
Trump, who has often pointed to the stock market surge as evidence that his economic policies are working, said Wednesday that the Fed had "gone crazy" raising short-term interest rates.
"The Fed is making a mistake. They're so tight," Trump told reporters before a campaign rally in Pennsylvania on Wednesday evening.
It marked Trump's latest attack in a string of criticism that began in the summer. Fed Chairman Jerome Powell, who took over the top Fed job in February, has not responded directly to Trump's attacks other than to say that the central bank believed its policy of gradual rate increases marked the best approach to extending the current recovery and making sure inflation does not become a problem.
So far, inflation, while higher than it has been, is remaining close to the Fed's target of 2
For September, energy prices fell 0.5
The Social Security Administration announced that millions of recipients of Social Security and other government benefits will receive a 2.8
Martin Crutsinger, The Associated Press