USA retail sales and CPI higher in September

Traders work on the floor of the NYSE in New York

Traders work on the floor of the New York Stock Exchange in New York U.S

Consumer prices in the USA increased by slightly less than expected in the month of September, according to a report released by the Labor Department on Friday.

"PPI was a little bit better, but that doesn't really translate well to CPI", said Gennadiy Goldberg, an interest rate strategist at TD Securities in NY.

The gasoline index rose 13.1% in September, accounting for three-fourths of the seasonally adjusted all items increase, and the food index picked up slightly.

The dollar lost its earlier gains following the data as traders considered the impact on a likely quarter-point interest rate increase from the Federal Reserve in December.

In U.S. stocks, banks and media companies were the biggest drags on the S&P 500 as AT&T Inc fueled concerns about video subscribers and investors took fright at comments from JPMorgan and Citigroup on consumer debt.

The increase in consumer prices was largely due to a jump in energy prices, which soared by 6.1 percent in September after jumping by 2.8 percent in August.

The pan-European FTSEurofirst 300 index rose 0.01 percent and MSCI's gauge of stocks across the globe gained 0.04 percent.

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Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday.

"While a December rate hike had seemed a strong probability after last Friday's solid wage growth data, the picture now looks much more finely balanced", said John Dolan, senior dealer at FEXCO Corporate Payments.

Also in currencies, the euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since September 25 earlier in the session.

Meanwhile, sterling rose to its highest against the greenback since October 4. Sterling was last trading at $1.3261, up 0.30 percent on the day.

Wall Street had a variety of drivers ranging from trade talks, which helped the materials sector, to oil prices, which boosted the energy sector, and retail data that helped consumer stocks, according to Tim Ghriskey, chief investment officer of Solaris Asset Management in NY.

Against the euro, the dollar fell 0.3% to $1.1864 and was 0.4% lower versus the pound at $1.3315. Core prices had been expected to rise by 0.2 percent.

Spot gold added 0.6 percent to $1,301.41 an ounce.

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