Consumer Prices Rise in September

Washington, DC, October 17, 2007--Consumers prices rose 0.3% followed a 0.1% decline in August prompted by falling oil prices, according to the Labor Department. Core prices rose 0.2% for a second month in line with forecasts.

Economists had forecast consumer prices would rise 0.2%. Core prices were forecast to rise 0.2%.

Over the past 12 months, consumer prices rose 2.8%, compared with a 2% rise in the 12 months through August, the lowest since October 2006. Consumer prices excluding food and energy rose 2.1% in the year through September, the same as in the 12 months ended in August.

Today's report showed energy prices rose 0.3%, the first increase since May, after declining 3.2% in August. Gasoline prices rose 0.4%.

Food prices, which account for about a fifth of the CPI, rose 0.5% after a 0.4% increase in August.

Housing costs, which include some energy costs and account for two-fifths of the total consumer price index, rose 0.3% after no change. Owner's equivalent rent, which makes up 30% of the core CPI, increased 0.3 % after rising 0.2 %.

Medical-care costs rose 0.3% after increasing 0.5%. Clothing prices climbed 0.3% following a 0. % decline. Auto prices dropped 0.3%.