United States consumer prices climbed 0.4% over the month in October, down from a 0.6% rise in September, according to Labor Department data released on Monday morning. The monthly increase outpaced the 0.24% rise projected by the Federal Reserve Bank of Cleveland's Nowcast. The reading comes as the Federal Reserve prepares for its final policy meeting of the year, where officials will weigh another interest rate hike.
US Consumer Prices Rise 0.4 Percent in October
US consumer prices climbed 0.4 percent in October, showing a slower monthly pace than September. However, core inflation exceeded expectations and could prompt the Federal Reserve to raise interest rates again in December.
Xurve View
Insights:
Xurve View
