A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September.
The Labor Department said its consumer price index rose by 0.3 percent in September after climbing by 0.4 percent in August. Economists had expected consumer prices to rise by another 0.4 percent.
The report also said the annual rate of growth by consumer prices ticked up to 3.0 percent in September from 2.9 percent in August, although that was slower than the 3.1 percent jump expected by economists.
Excluding food and energy prices, the core consumer price index crept up by 0.2 percent in September after rising by 0.3 percent in August. Core consumer prices were expected to increase by another 0.3 percent.
The Labor Department also said the annual rate of growth by consumer prices slowed to 3.0 percent in September from 3.1 percent August. Economists had expected the pace of growth to remain unchanged.
At 10 am ET, the University of Michigan is scheduled to release its revised reading on consumer sentiment in the month of October. The consumer sentiment index for October is expected to be unrevised from the preliminary reading of 55.0, which was down slightly from 55. In September.