Higher gas costs drove up U.S. consumer prices in September for the second straight month. Outside energy, there was little sign of inflation.
The Labor Department said Tuesday that the consumer price index rose a seasonally adjusted 0.6 percent last month, matching the August increase. In the past 12 months, prices have increased 2 percent. That’s in line with the Federal Reserve’s inflation target.
Excluding volatile food and energy costs, prices rose just 0.1 percent. In the past year, so-called core prices have increased 2 percent.
Industrial output rises but factories stay weak
U.S. industrial production increased only modestly in September, held back by weak growth in factory output.
The Federal Reserve said Tuesday that output at factories, mines and utilities rose 0.4 percent in September. That followed a 1.4 percent decline in August, which partly reflected precautionary shutdowns before Hurricane Isaac hit the Gulf Coast.
Factory output, the most important component of industrial production, edged up only 0.2 percent in September. And for the July-September quarter, factory production fell at an annual rate of 0.9 percent. That was the first quarterly decline since the spring of 2009, when the country was still in recession.
Coca-Cola to launch ‘beauty drinks’ in France
NEW YORK — The Coca-Cola Co. and Sanofi are partnering to launch a line of “beauty drinks” in France.
The drinks will be positioned under the Oenobiol Beautific brand, but Coca-Cola declined to provide further details. The Coca-Cola business unit in France said in a statement that the drinks will be sold in a “small scale pilot” limited to a number of pharmacies in the country.
Coca-Cola, the world’s largest beverage maker, declined to comment beyond the statement.
Pandit steps down as Citigroup CEO