US CPI Nov - October inflation surged, affecting policy
2024-12-11
Summary:
October inflation rose as expected, according to the Bureau of Labor Statistics, with core consumer prices also aligning with forecasts.
US CPI Nov
11/12/2024 (Wed)
Previous: 2.6% Forecast: 2.7%
Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported. Core consumer prices also met forecasts.
Despite signs of inflation moderating elsewhere, shelter prices continued to be a major contributor to the CPI move. Inflation-adjusted average hourly earnings increased 0.1% for the month.
The 12-month rate of a 2.6% took inflation further away from the Fed's 2% goal and could complicate the central bank's monetary policy strategy going forward.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Gold bulls gain confidence from Chinese buying
Gold prices hit a two-week high, fueled by rising geopolitical tensions, PBOC buying, and expectations of a third Fed rate cut.
2024-12-11
Chinese stocks jump after stimulus vow
China stocks surged on rate cuts and consumption boosts, while global stocks remained cautious ahead of US inflation data.
2024-12-10
Funds flocked to US market last month
The Nasdaq 100 and S&P 500 hit record highs, fueled by upbeat outlooks and US jobs data raising expectations of a Fed rate cut.
2024-12-09
