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Inflation is still a thing. Prices were 2.6% higher in October than a year earlier, according to the latest Consumer Price Index, released Wednesday.
Kashkari’s remarks come ahead of the October inflation report slated for release Wednesday at 8:30 a.m. ET. Economists predict headline inflation could tick up from 2.4% to 2.6% year-over-year ...
US stocks soared in early trading following the release of the data. The 10-year Treasury yield dropped 18 basis points to trade near 4.45%, while the 30-year Treasury yield declined roughly 13 ...
The three-month annualized rate of core inflation moved from 3.1% last month to 3.6% after the October CPI release. This underscores the recent lack of progress toward the Fed's 2% goal.
Inflation rose slightly in October in line with economists' expectations, as the consumer price index was up 2.6% from a year ago and 0.2% compared with last month.
Shelter, food remain sticky. Notable callouts from the inflation print include the shelter index, which rose 4.9% on an unadjusted, annual basis, matching September's increase.
Wednesday’s inflation readings were exactly what economists had anticipated: Consensus estimates called for a 0.2% monthly increase and for the annual rate to climb to 2.3%, according to FactSet.
The Bureau of Labor Statistics released its October Consumer Price Index (CPI) at 8:30 a.m. ET on Tuesday. Here are the main figures from the report, compared to Wall Street estimates.