US Consumer Prices Rise More Than Expected in October
US consumer prices increased more than expected in October driven by higher costs for food and accommodation. The report leaves the Federal Reserve on course to raise interest rates next month.
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United States consumer prices rose 0.4% in October, exceeding forecasts and marking the third consecutive month of high inflation driven by shelter and food costs. The persistent price pressures leave the Federal Reserve on course to raise interest rates next month. Inflation is running well above the central bank's 2% target, compounding economic pressures.
