FOREX-US dollar lower after consumer prices increase less than expected

By Hannah Lang and Samuel Indyk

NEW YORK/LONDON, Oct 24 (Reuters) - The U.S. dollar was lower on Friday after fresh U.S. inflation data showed that U.S. consumer prices increased slightly less than expected in September, keeping the Federal Reserve on track to cut interest rates again next week.

The Consumer Price Index rose 0.3% last month after climbing 0.4% in August, the Labor Department's Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast the CPI increasing 0.4% and rising 3.1% year-on-year.

The U.S. dollar index was last down 0.078% at 98.86, after earlier falling as much as 0.2%.