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The Labor Department reported on Tuesday that consumer prices in the U.S. were advancing in September, following an increase the month before, which was a reflection of a growth in energy expenses. September's consumer prices were growing at a rate of 0.6% for the second consecutive month, while economists expected that it would by only 0.5%. Core CPI added 0.1%, which was lower than a 0.2% growth expected by analysts.
‘There isn't any meaningful risk of short-term core inflation. When it comes to everyday goods and services, the lack of demand just isn't going to push prices higher,' said chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, Guy LeBas, who correctly predicted the gain in core CPI.