October CPI: Inflation moderates, rising at annual 7.7% over last year [View all]
Last edited Thu Nov 10, 2022, 08:56 AM - Edit history (1)
She's updating this throughout the morning.
Yahoo Finance
October CPI: Inflation moderates, rising at annual 7.7% over last year
Alexandra Semenova · Reporter
Wed, November 9, 2022 at 4:07 PM · 1 min read
U.S. inflation eased slightly last month as the Federal Reserve raised interest rates to get a grip on prices that have surged at a historic pace.
The Consumer Price Index (CPI) in October reflected a 7.7% increase over last year and 0.4% increase over the prior month. Economists had expected prices rose at an annual 7.9% and 0.6% month-over-month, per Bloomberg consensus estimates.
On a "core" basis, which strips out the volatile food and energy components of the report, prices rose 6.3% year-over-year and 0.3% over October.
Expectations were for a 6.5% annual increase and 0.5% monthly increase in the core CPI reading.
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The placeholder article, from yesterday afternoon:
Yahoo Finance
October CPI preview: Inflation likely eased slightly from last month
Alexandra Semenova · Reporter
Wed, November 9, 2022 at 4:07 PM
U.S. inflation likely remained stubbornly high last month despite efforts by the Federal Reserve to get a grip on prices that have surged at a historic pace.
The Bureau of Labor Statistics' Consumer Price Index (CPI) for October is scheduled for release at 8:30 a.m. ET on Thursday. Economists surveyed by Bloomberg expected the headline reading to show an accelerated monthly increase of 0.6% from 0.4% in September, driven in part by the first jump in energy prices in four months.
The broadest measure is projected to have moderated to a 7.9% rise annually, down slightly from Septembers year-over-year increase of 8.2%. Core CPI, which strips out the volatile food and energy components of the measure, is projected to come in at 0.5% on a monthly basis and 6.5% over the year, little changed from 0.6% and 6.6%, respectively, last month the highest core prints since 1982.
The Federal Reserve keeps a closer eye on "core" inflation, which offers policymakers a more focused look at inputs like housing. Headline CPI, in contrast, has moved largely in conjunction with erratic energy prices this year.
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