Inflation Report Finds Prices Rose Faster Than Expected Before Midterms
Summary
U.S. consumer prices rose 0.4% in October, exceeding analysts’ 0.3% forecast, according to the Bureau of Labor Statistics. Core prices, which exclude food and energy, rose 0.3%; the report did not include an annual inflation rate because a prior government shutdown disrupted data collection.Key Facts
- The Consumer Price Index increased 0.4% in October.
- Analysts had forecast a 0.3% monthly increase in consumer prices.
- Prices rose 0.6% in September, driven by fuel, according to the article.
- Core inflation rose 0.3% in October, matching September’s increase and above the 0.2% forecast.
- The Bureau of Labor Statistics did not report the 12-month inflation rate because it lacked an October comparison from the prior year after a government shutdown disrupted data collection.
- The Federal Reserve held interest rates steady in late October after a quarter-point rate increase in September.
- The October jobs report showed 165,000 jobs added, compared with analyst forecasts of 65,000.
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