Summary:
US inflation dipped to 3.2% in October, marking the first four-month decline, driven by a drop in fuel prices and slightly below the anticipated 3.3%.
US CPI
12/12/2023 November
Previous: 3.2% | Forecast: 3.1%
US inflation fell to 3.2% in October, the first declinein four months, as fuel prices dropped. The figure was also marginally below expectations of 3.3%.
Meanwhile, core inflation dipped from 4.1% to 4 % on a year-on-year basis, and rose 0.2% month on month. Some big US companies have reported seeing encouraging signs on price pressures
Some suspect that the slowdown in inflation could stall given stronger than expected growth so far this year, but Powell said last month the chance of a soft landing had slimmed with higher-for-longer interest rates.
The South African rand erased early gains on Thursday, extending December's weakness, but could rally, according to the options market.
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