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Consumer prices drop 0.2 percent in September

In this Thursday, July 16, 2015, photo, a customer refuels her car at a Costco in Pittsburgh. The Labor Department reports on consumer prices for September on Thursday, Oct. 15, 2015. (AP Photo/Gene J. Puskar) In this Thursday, July 16, 2015, photo, a customer refuels her car at a Costco in Pittsburgh. The Labor Department reports on consumer prices for September on Thursday, Oct. 15, 2015. (AP Photo/Gene J. Puskar)

By Associated Press October 15, 2015 1 min read

WASHINGTON (AP) – The Labor Department says U.S. consumer prices were dragged lower again last month by plunging energy costs.

The consumer price index fell 0.2 percent in September, following a 0.1 percent drop in August. Gasoline prices dropped 9 percent last month after falling 4.1 percent in August. Overall consumer prices were unchanged over the past year.

Excluding volatile food and energy prices, so-called core consumer prices rose 0.2 percent from August and 1.9 percent from September 2014.

The Federal Reserve wants to see annual inflation running close to 2 percent. The overall number is well short of that goal, but core inflation is close. The Fed decided last month to hold off on a long-anticipated increase of short-term interest rates, which it has kept near zero since December 2008.