NEW YORK (Reuters) – The dollar strengthened on Thursday after U.S. consumer prices rose more than expected in September influenced by higher gasoline prices, suggesting the Federal Reserve may keep interest rates elevated for some time.
The consumer price index increased 0.4% last month after a 0.3% gain in August, the Labor Department said. The CPI jumped 0.6% in August, which was the largest increase in 14 months.
The dollar index rose 0.379% at 106.060, while the euro was down 0.4% to $1.0575.
(Reporting by Herbert Lash; Editing by Andrew Cawthorne)
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