US October CPI rises 0.4%, above expectations, as food and energy costs climb
Briefing by News4U · First published
US consumer prices rose 0.4% in October after a 0.6% gain in September, above the 0.3% forecast, as food, gasoline and electricity prices increased. The Bureau of Labor Statistics did not publish year-over-year figures because data collection was prevented by last year’s government shutdown. The rise keeps the Federal Reserve on course to raise interest rates at its December meeting. High inflation contributed to Republican midterm losses, with party figures citing voter frustration over elevated gas prices. [1] [2] [3] [4] [5]
Sources
- US inflation rose 0.4% in October as price increases cooled and gas costs dipped
The Guardian Business · · Full text
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FT Markets · · Summary only
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Bloomberg · · Summary only
- US consumer prices rise above expectations in October
RTÉ Business · · Full text