Rise seen in consumer prices in September

NEW YORK (Reuters) - U.S. consumer prices probably rose in September as gasoline and food prices rebounded, while prices excluding food and energy are estimated to have climbed at the same pace as the previous month, a Reuters poll showed.

Forecasts from 68 economists produced a median estimate for a reading of 0.2 percent for the September U.S. Consumer Price Index (CPI) versus a 0.1 percent decline in August.

Predictions for headline CPI ranged from an increases of 0.1 percent to 0.5 percent.

Core CPI, which excludes its more volatile food and energy items, was seen up 0.2 percent, rising at the same rate as in August. Estimates ranged from increases of 0.1 percent to 0.3 percent.

The Labor Department will release the September CPI report on Wednesday at 8:30 a.m.

The following is a selection of comments from economists:

WACHOVIA

FORECAST: CPI +0.3 percent

Core CPI +0.2 percent

"The headline CPI is expected to be up 0.3 percent in September largely on rebounding energy prices and food prices. Core expected to rise another 0.2 percent. Tobacco prices might be the wild card this month for the core as two of the largest cigarette makers announced price increases in September."

CITIGROUP

FORECAST: CPI: +0.2 percent

Core CPI +0.2 percent

"We look for another modest rise in CPI in September, both in total and core. We suspect that there is upside risk to our total CPI forecast, with both energy and food prices rising. The risks run the other way for our core CPI forecast, especially with consumer demand tailing off and firms discounting apparel. Underlying inflation has been gradually decelerating and we expect that this report will not alter that trend."

INSIGHT ECONOMICS

FORECAST: CPI +0.4 percent

Core CPI +0.2 percent

"CPI rose moderately in September, lifted by higher food and energy prices. Core CPI increased modestly, extending the string of (rounded) 0.2 percent readings to 6 months. Another 0.2 percent reading for September will leave the 12 months core consumer inflation rate at 2.1 percent.