No inflation here, thanks to gas price drop
Consumer prices in the Seattle area were unchanged during the past two months, thanks to lower gas prices.
Seattle Times business reporter
Seattle’s inflation remained under control in September and October as consumer prices rose only 0.6 percent over the past year, the Bureau of Labor Statistics reported Thursday.
Overall consumer prices in the Seattle area were unchanged during the past two months, thanks to lower gas prices.
Nationwide, overall prices increased 1.0 percent over the past year, the smallest gain since October 2009. The U.S. Consumer Price Index declined 0.1 percent from September to October.
Unlike the national inflation rate, which is tracked monthly, prices for metro areas such as Seattle are measured every other month. They are not adjusted for seasonal variations.
Local gasoline prices fell 8.9 percent for the two months ending in October, while food prices climbed 1.0 percent.
Excluding food and energy costs, so-called core prices rose 0.4 percent from August to October.
Two months ago, overall prices in the Seattle area increased 1.1 percent over the past year and were unchanged from June to August, despite a significant rise in housing rents.
Amy Martinez: 206-464-2923 or email@example.com. On Twitter: @amyemartinez