U.S. consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years, bolstering the view that the Federal Reserve was probably done raising interest rates.
U.S. consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years, bolstering the view that the Federal Reserve was probably done raising interest rates. Though rents continued to rise last month, the pace of the increase slowed considerably from September. The softer-than-expected inflation readings reported by the Labor Department's Bureau of Labor Statistics (BLS) on Tuesday pushed U.S.
Treasury yields lower and sparked a"The Fed always wants to see more progress, but it is looking like the inflation battle has rounded the corner," said Christopher Rupkey, chief economist at FWDBONDS. "With any luck, the economy will miss a recession and get lower inflation too." The unchanged reading in the consumer price index, the first in more than a year, followed a 0.4% rise in September. Gasoline prices dropped 5.0%, offsetting the continued increase in the cost of rental accommodation. Prices at the pump rose 2.1% in September. Food prices gained
U.S. Consumer Prices Inflation Federal Reserve Interest Rates Gasoline Rental Accommodation Economy
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