Meat Industry INSIGHTS Newsletter

971134 Consumer Prices Climb in October

November 18, 1997

Washington - Prices consumers paid for goods and services increased last month in line with the expectations of most economists.

The Labor Department says consumer prices rose 0.2 percent for a fourth consecutive month.

Most economists were expecting a 0.2 percent increase.

So far this year, consumer prices have gone up at a seasonally adjusted annual rate of 1.8 percent. Prices advanced 3.3 percent in all of 1996.

Food prices increased 0.2 percent last month and energy prices crept up 0.1 percent. Prices for all goods and services except those related to food and energy advanced 0.2 percent a second straight month, meeting the expectations of most economists.

The Labor Department reports prices increased in October for dairy products, fruits and vegetables but fell for meats, poultry, fish, coffee and eggs.

Costs dropped for gasoline.

Prices climbed 0.3 percent for housing, 0.1 percent for clothing, 0.1 percent for transportation, 0.1 percent for medical care and 0.2 percent for entertainment.

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