The October Consumer Price Index (CPI) report shows a 0.2% monthly rise in inflation, with a 2.6% year-over-year increase, slightly above September’s 2.4% rate.
Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction.
The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024.
U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents.
Inflation Slowed in May According to the Consumer Price Index Out Today.
By Tim Doescher May 15, 2024 (Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)
The Producer Price Index, which tracks wholesale-level inflation, edged up to 2.1%, marking the biggest jump since April 2023.
A major price hike for candy may be the scariest thing about Halloween this year.