US Consumer Prices Jump 0.3%

The Labor Department announced that for the month of October, consumer prices outpaced predictions due largely to higher energy prices and a jump in new car prices. Overall however, prices are down from last year and the inflation outlook remains subdued.

Prices for the month of October were 0.3 percent higher than the month before, compared to predictions of 0.2 percent. Core inflation, which excludes energy and food, rose 0.2 percent, compared with analysts’ expectation for a 0.1 percent rise, but when compared to October 2008, prices are still down 0.2 percent.

Associated Press

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.