USA retail sales and CPI higher in September

USA retail sales and CPI higher in September

It was the largest monthly gain since January.

The index which measures the greenback against a basket of six major currencies was flat ahead of consumer price inflation data, due at 1230 GMT.

The pan-European FTSEurofirst 300 index rose 0.01 percent and MSCI's gauge of stocks across the globe gained 0.04 percent.

Prices for all items less food and energy, the "core CPI", grew 0.1% in September, following a 0.2% August increases.

Economists surveyed by The Wall Street Journal expected a 0.6% gain in overall prices and a 0.2% increase in core prices.

On Wall Street worldwide trade talks boosted the materials sector while higher oil prices helped the energy sector and retail data helped consumer stocks, said Tim Ghriskey, chief investment officer of Solaris Asset Management in NY. In the 12 months through September, the core CPI increased 1.7 percent.

The euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since September 25 earlier in the session.

"Just when Janet Yellen had one finger on the trigger to raise rates in December, weaker inflation figures have reared their ugly head once again", said Alex Lydall, head of dealing at Foenix Partners.

"There is really no fig leaf to cover up this notion that inflation is weak, and it's weak in a very broad sense", said Aaron Kohli, an interest rate strategist at BMO Capital Markets in NY.

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The report also said the annual rate of producer price growth accelerated to 2.6 percent in September from 2.4 percent in August.

The increase in petrol prices was the largest since June 2009 and followed a 6.3 per cent advance in August. "The Fed has pointed to inflation bouncing back, and there is no data to support that at the moment".

"It all comes out to the economic data that came out today", said Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners, in Huntersville, NC, referring to moves in bonds, currency and stocks. But that hasn't fully translated directly into higher US consumer prices, in part because technology is allowing Americans to find lower-cost products and wage pressures remain largely in check.

Meanwhile, the monthly rise in auto sales was 3.6% in September, with unit sales reaching a 12-year high, and sales of building materials and garden equipment were up 2.1% on the month.

The food index increased 0.1%. Shelter prices advanced 0.3% over the month.

USA crude fell 1.29 percent to $50.64 per barrel and Brent was last at $56.32, down 1.09 percent.

Data from Friday's report will be used to calculate next year's cost-of-living adjustment for the 66.7 million Americans who receive Social Security benefits.

In a separate report, the Commerce Department said retail sales jumped 1.6 per cent in September.

Real average weekly earnings.

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