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Economy

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mahatmakanejeeves

(62,122 posts)
Thu Nov 10, 2022, 08:07 AM Nov 2022

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.

(This post is breaking. Please check back for updates.)

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 September’s 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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