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October CPI Report Cements End To Fed Rate Rises With Inflation Easing


More inflation improvement was indicated in the October Consumer Price Index Report, giving investors hope that the Federal Reserve’s historic rate-hiking campaign is finally having an effect on the economy.

According to data from the Bureau of Labor Statistics, October saw increases in the Consumer Price Index of 3.2% annually and 0.2% monthly, partly attributable to declining energy costs. The yearly reading was less than predicted by economists.

According to the BLS, the core CPI, which takes volatile food and energy prices out of account, increased 4.0% annually after increasing 4.1% in September. This was the lowest annual change since September 2021. That reading was also lower than what economists had predicted.

The central bank’s rate hikes, which started in March 2022 as part of an extended effort to rein in runaway inflation and bring it back to its target of 2%, may finally be coming to an end, according to the most recent data on softening prices.

“Today’s positive inflation news helps cement the case for a Fed pause on rate hikes,” says Morningstar senior U.S. economist Preston Caldwell.

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