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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (48930)	10/18/2000 9:41:04 AM
From: Bill Ounce	Read Replies (2) \| Respond to of 94695

6% inflation rate??? This should explain this morning's drop usatoday.com Prices Jump 0.5 Percent in Sept. By MARTIN CRUTSINGER AP Economics Writer WASHINGTON - Consumer prices jumped 0.5% in September, the biggest advance since June, as energy prices rebounded sharply, the Labor Department said Wednesday. The increase in the Consumer Price Index, the government's most closely watched inflation gauge, followed a 0.1% decline in August, which had been the first drop in 14 years. In both August and September, the CPI was dominated by energy movements. After falling by 2.9% in August, energy prices shot up 3.8% in September, the biggest advance since a 5.6% surge in June. The big rise in energy, which consumers have felt in sharply rising gasoline prices and home heating oil costs, prompted President Clinton last month to order the release of oil from the government's Strategic Petroleum Reserve. While so far, the steep increases have been mainly contained in the energy sector, economists are worried about a spillover effect that could send overall inflation higher, setting off alarm bells at the Federal Reserve.