US inflation up on food costs

Joseph Millis
US CONSUMER prices rose margin­ally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while.

The Labor Department said yest­erday its Consumer Price Ind­ex edged up 0.1 per cent last month as a rise in food and shelter costs offset a decline in energy prices.

Meanwhile, AT&T said that its quarterly revenue rose 2.5 per cent to $33bn from $32.2bn in the year-ago quarter – less than Wall Street expected.

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