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The US Consumer Price Index (CPI) increased by 0.2% in October 2015, after two months of declines.

The figures, along with the strong employment numbers in October, increase speculation that the Federal Reserve will raise interest rates in December.

Prices were pushed up by the rising cost of electricity and a resurgence in petrol prices.

A survey of US fund managers by Bank of America Merrill Lynch found that four-fifths of the managers surveyed expected a rate rise next month.US CPI October 2015

The so-called core CPI, which strips out food and energy, also rose 0.2% after a similar increase in September.

Medical costs accounted for much of the increase. Medical care prices rose 0.7%, the largest increase since April, and hospital costs increased by 2%.

Although food prices rose only 0.1%, the smallest gain since May, they edged up 0.4% in September and four out of six of the indexes compiled by the big grocery store food groups showed the largest increase since August 2011.

The biggest price falls were in clothing, shoes and new cars.

Over the entire 12 months through to October, the core CPI increased by 1.9%.

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China’s rising food prices pushed up inflation to a one-year high in the world’s second largest economy.

The consumer price index (CPI) unexpectedly rose to 2% in August from a year ago, mainly on higher food prices and not due to a pickup in economic activity.

On the back of that, the producer price index (PPI) fell 5.9% – marking its 42nd consecutive month of declines.

Deflation fears in China are growing as manufacturers continue to cut prices.China CPI August 2015

The PPI decline was the biggest drop since the global financial crisis in 2009 due to falling commodity prices and slumping demand.

Economists said the continuing fall in producer prices poses the risk of trickling through to consumer prices.

Meanwhile, pork prices which weigh heavily on consumer prices in China, rose from 16.7% last year to 19.6% in August, while vegetable prices surged from 9.7% to nearly 16%.

Economists are expecting the government to step up with more policy measures to stimulate the economy.

Speaking at the World Economic Forum in Dalian on September 10, Chinese PM Li Keqiang was the latest policymaker to reiterate that the government will continue to support the economy to ensure stable growth.

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