From Perfil · · 1m
US Inflation Accelerates, Fed Pressure Rises
US inflation jumps in October as Fed faces rate hike pressure.
In brief
US inflation jumps in October as Fed faces rate hike pressure. US consumer price index rose 0.4% in October, pushing expectations for Fed rate hikes in December. Originally reported by Perfil.
US Inflation Accelerates
The US consumer price index rose 0.4% in October, driven by food, energy, and services.
Inflation Pressures Intensify
The Bureau of Labor Statistics reported a 0.3% monthly increase in underlying inflation excluding food and energy.
Energy Costs Rise
Electricity prices increased 0.9% while airfares rose 0.4% in October.
Housing Costs Increase
Rent equivalents for owners rose 0.3%, the most significant component in the US consumer price index.
Fed Rate Hike Expectations
The Federal Reserve faces pressure to raise interest rates after October's inflation data.
December Fed Meeting
The Federal Reserve will meet on December 8 and 9 to decide on interest rate adjustments.
In short
US consumer price index rose 0.4% in October, pushing expectations for Fed rate hikes in December.
