HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS. sep 2022. . Other economic concerns: Beyond inflation, these other economic factors could affect you and are worth watching. Australia +7.3%. The CPI numbers for September is a study in contrasts. US CPI fell to 8.3%in August. Get top insights on the most traded stock indices and what moves indices markets. We use a range of cookies to give you the best possible browsing experience. "This is not what the Fed wants to see six months into one of the most aggressive tightening cycles in decades," says Sal Guatieri, a senior economist at BMO Capital Markets. Inflation rates went as high as 14.93%, causing the Federal Reserve led by Paul Volcker to take dramatic actions. Column A, or the first vertical row, is the date that the model is run, so, for example, the date 12/1/2015 . Last month's increase defied forecasts for a more rapid slowdown in inflation. No entries matching your query were found. The Philippines' annual inflation in October accelerated to its quickest pace in almost 14 years, driven mainly by higher food costs, opening the door for sustained tightening . You can join live by watching the stream at the top of this note. Analysts' October 2022 inflation rate estimates. Gas prices are lowering but families are still feeling the impact of inflated food prices. Tom Perkins Sun 16 Oct 2022 05.00 EDT A fresh round of US inflation data released last week showed persistently high prices, raising more questions about whether the Federal Reserve's. . 2021 BusinessWorld Publishing. The Consumer Price Inflation (CPI) for October 2022 based on the new series was 144.4 relative to 102.9 for October 2021 using the linked series, the Ghana Statistical Service has disclosed. Jakarta (ANTARA) - Consumer Price Index (CPI) in October 2022, which experienced month-to-month (mtm) deflation of 0.11 percent, was lower than the initial forecast and inflation of the previous month recorded at 1.17 percent, Bank Indonesia (BI) stated. While expectations for the Feds terminal rate have pushed well beyond 5%, it would appear that risks remain skewed toward further increases. The energy index increased 23.8%, below 32.9% in July. Euros Fate Hinges on US Inflation Data, Major Tech Levels to Watch on EUR/USD, WTI Crude Oil Retreats as US Inventories Jump and China Covid Fears Escalate, Crude Oil Forecast: Brent Limited by Chinas COVID Policies and Stronger USD, Dow Jones, S&P 500 Outlook: Retail Traders Sell Wall Street, Rising Wedge in Focus, Dow Jones (DJI) Soars, FTSE Indecisive while US Stocks Head Higher, US Dollar Price Action Ahead of CPI: EUR/USD, GBP/USD, USD/CAD, USD/JPY Outlook: Descending Triangle Highlights Yens Short-Term Prospects, Heads Up: Foreign Bond Investment (05/NOV) due at 23:50 GMT (15min) After falling for two months, air fares resumed their march higher, rising 0.8% and 42.9% over the past year. US Inflation Rate is at 8.20%, compared to 8.26% last month and 5.39% last year. National Statistics Office of Georgia, the legal entity of public law, carries out its activities independently. Next update: November 10, 2022. The annual increase for the average hourly earnings of . The overall CPI is seen rising from a month earlier by the most since June. Read our privacy guidelines, Analysts October 2022 inflation rate estimates. Well discuss these questions and more in context of the, USD Majors, Gold, Oil, SPX, Nasdaq & Dow- Weekly Technical Outlook, Live Data Coverage: October US NFP & Unemployment Rate, Live Data Coverage: November Federal Reserve Meeting, USD Majors, Gold, S&P 500, FOMC & NFP- Weekly Technical Outlook, FX Publications Inc (dba DailyFX) is registered with the Commodities Futures Trading Commission as a Guaranteed Introducing Broker and is a member of the National Futures Association (ID# 0517400). (Read more about core inflation.) DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. When using the core inflation measurement, $1 in 2020 is equivalent in buying power to $1.09 in 2022, a difference of $0.09. Big Fed blunder? Gas prices declined sharply for a third month on falling global demand for oil and recession worries. Pump prices slipped 4.9%but were still up 18.2% annually and have moved higher in recent weeks after OPEC announced oil production cuts. Clothing prices dropped 0.3% and hotel rates slid 1%. The US economy bounced back last quarter after shrinking in the first half of the year Core PCE, which strips out volatile food and energy prices and is the Fed's preferred measure of. Consumer Price Index. Other Inflation Rate Links of Interest: GOP leading on the economy, inflation, poised for midterms victory: poll Your wallet is telling you how to vote on Nov. 8 US inflation surged 8.2% in September a steeper-than-expected. For 2021, the COLA was set at 1.3% with the release of the September inflation report on Oct. 13, 2020. Is this happening to you frequently? Forex trading involves risk. 1 day ago. +0.39 +0.85% JPM JPMORGAN CHASE 131.45 USD US inflation probably moderated just slightly in October data due Thursday, and yet another above-forecast reading may dash expectations for the. Consensus estimates on Refinitiv put annual inflation at 8% in October, which would be a slower pace of increase than the 8.2% seen in September's reading and the lowest year-over-year increase. In 2022 in the wake of the COVID-19 pandemic, inflation reached 8.5%, its highest rate since 1982. Business Cycle: Expansion and Peak Workers attach siding to a house at a new home construction site in Trappe, Maryland, on October 28, 2022. Image Source : AP A help wanted sign is displayed in Deerfield, Ill., Wednesday, Sept. 21, 2022. More encouraging were the continued decline of used car prices which edged down another 1.1% -- after a historic run-up as supply snarls for new cars eased. While the Fed has opened the door to having optionality at future policy meetings, the ability to have options may be off the table should inflation remain persistently stubborn. Read the full story. Core inflation excludes certain items that are known for their volatility -- namely, food and energy. US Inflation Rates By Month These are the United State monthly interest rates from 2000 to 2022. Registered Address: 19 North Sangamon Street, Chicago, IL 60607. Depending on the indicator of choice, there's supporting evidence for deciding that worst of the inflation surge is behind us. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. They also drive less to save on gas, staying within a 5-mile radius of home, and havent taken a vacation since before the COVID-19 pandemic. Registered Address: 19 North Sangamon Street, Chicago, IL 60607. That pushed the annual increase from 6.3% to 6.6%, a new 40-year high. High inflationis having one positive impact. Gold Price Struggles to Push Above October High Ahead of US CPI, S&P 500 Sinks ahead of US Inflation Data, Stock Market at Risk as Bitcoin Collapses, The Fate of the US Dollar, the Dow, and Gold After US Midterms, US Inflation Data, Canadian Dollar Technical Analysis: CAD/JPY, USD/CAD Rates Outlook, British Pound Short-term Outlook: GBP/USD Testing Yearly Downtrend, DAX and CAC 40 Technical Outlook: At Risk of a Pullback, Possible Top. According to PSA, the inflation rate nationwide saw an uptrend from 6.9 percent in September this year to 7.7 percent in October - making it the highest recorded inflation since December 2008. Trade Smarter - Sign up for the DailyFX Newsletter, Receive timely and compelling market commentary from the DailyFX team, --- Written by Christopher Vecchio, CFA, Senior Strategist and Brendan Fagan, Research Contributor. Other price movements were mixed. The so-called core rate of inflation is seen rising 0.5%, a tick below. Just last week, the Federal Reserve delivered its fourth consecutive 75-bps rate hike. Georgetown Professor Nada Eissa explains why she believes the Feds actions to get inflation under control will likely lead to a recession. 2022 CPI and Inflation Rates for Alberta. In 2022 the US economy contracted for two consecutive quarters after experiencing record inflation not seen since 1981. Barclays expects double-digital annual food inflation through January. The national year-on-year inflation rate was 40.4% in October 2022 which is 3.2 percentage points higher than the recorded 37.2% in September 2022, the Ghana Statistical Service has said.. By continuing to use this website, you agree to our use of cookies.You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. A reading above consensus on Thursday is likely to fuel bets for an additional 75-bps in December, which could erase some of the recent gains in risk assets. That could help to ease inflation. Extreme volatility across rates markets, as seen in the MOVE index, has kept investors on edge all year. The higher inflation in the country is brought about by the acceleration in the annual growth of food and non-alcoholic beverages index at 9.4 percent . The October CPI report . How people are 'barely making it' work. . FX PUBLICATIONS IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. Grocery prices rose by 0.7% from Augustand are up 13% over the past 12 months. There are signs that inflation should ease noticeably in coming months. Based on the records, the previous rates were on an upward trend. Reuters. File Size 671.84 KB. April 2022. Sept Yearly: 8.2%. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3. Dashboard Rates CPI Info Subscribe. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. This means that in the month of October 2022 the general price level was 40.4% higher than October 2021. Is the case for peak inflation dead? It is an institution established to produce the statistics and disseminate the statistical information according to the Georgian legislation. Despite the rate hikes, inflation ran at a hotter-than-expected 8.2% in September. As I noted in last month's review, the alternative inflation metrics continue to suggest that high inflation is looking more entrenched, which in turn will likely spur the Federal Reserve to raise rates further for longer, and perhaps in bigger-than-recently expected increments. The numbers we report are annualized, so 1.5 percent for the 10-year inflation expectation means that inflation is expected to average 1.5 percent per year over the next 10 years. CPI report shows inflation eased, but stayed high, in Oct. 2022 MONEY Inflation eased to 8.2% but remained high in September, CPI report shows Paul Davidson USA TODAY 0:06 1:34 Inflation. (View Release Schedule for details on upcoming releases) Data Provided By 2022 Inflation Charts U.S. CPI 2022 2022-01-01 2022-09-01 280 285 290 295 300 Chart by Visualizer That was true a month ago and remains true following the release of September data. Two key themes for US inflation in 2022 have been the gradual rotation in consumption from goods, mainly durables, to services as the economic reopening got broader and stronger, and the. In this article. Rents on new leases are falling, and a sharp rise in health insurance premiums should partly reverse starting in October, according to Goldman Sachs and Pantheon Macroeconomics. But the pullback probably will continue to be slow, economists said. Wage inflation suggests as much. That being said, bets for Decembers outcome currently sit around 50/50, slightly skewed in favor of a 50-bps rate hike. US inflation probably moderated just slightly in October data due Thursday, and yet another above-forecast reading may dash expectations for the Federal Reserve to downshift from steep interest-rate hikes. "There is a persistence in inflation that if you are the Fed has got to be deeply worrying," says Ajay Rajadhyaksha, global chair of research at Barclays. He writes for trade magazines read by financial professionals and financial advisers. This table shows the monthly All-Items Consumer Price Index (CPI-U) and annual inflation rates for Alberta in 2022. The current inflation rate, the previous month's inflation rate and the month over month inflation rate. I dont love the need to buy in bulk to get a reasonable price, but its what I do now, she said. Three of four of these measures point to an upward bias for inflation. Inflation drifted lower last month, but the descent from historichighs remains painfully slow and a key measure set a new 40-year record. This data was released on for the reference month of October 2022. As presented in Tables 1 and 2, the rise in inflation was largely due to increase in prices of commodities under food and non-alcoholic beverages (15.8%); transport (11.6%) and housing, water, electricity, gas and other fuels (7.1%) between October 2021 and October 2022. U.S. Inflation Rate Forecast Inflation Forecast Values Year-Over-Year Percent Change in U.S. Consumer Price Index. The Federal Reserve prefers to strip out gasoline and food prices to get a better sense of underlying inflation trends. The month-on-month inflation between September and October 2022 was 2.7% Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages. This measure offers a way to develop some quantitative insight for deciding which way the inflationary wind is blowing.). At present time, rates markets are favoring a 50-bps rate hike at the next Federal Reserve rate decision in December. Please. Philippines ranks 12th in 30-economy Sustainable Trade Index, Second-quarter GDP revised upward to 7.5%, Meralco raises electricity rates for November, MPIC says profit hits P4.4B, on track to meet P14-B target, SMIC profit up 50% to P43B as economy picks up, Jollibee earns P2B, terminates Dunkin Donuts deal in China, Megaworld registers P8.4-B profit on improved sales, Monde Nissin income down 46% after product recall, Puregold income rises 13% to P6.5B on increased shop traffic, Chelsea sees performance significantly better than 2 years ago, Why some like it hot: The science of spiciness, Rich-poor income gap slightly narrowed in 2021. See our updated Privacy Policy here. He found that by then the 2022 Russian invasion of Ukraine was the principal cause of higher inflation, comprising 3.5% of the 8.6%. Rent leaped 0.8% monthlyand 7.2% over the past yearas landlords responded to an earlier risein home prices. Year Month Annual Average Inflation 12-Month Inflation; Year Month Annual Average Inflation 12-Month Inflation; 2022: October: 7.48: 9.59: 2022: September: 6.81: 9.18 Year-over-year inflation rates give a clearer picture of price changes than annual average inflation. The change in this price level of goods and services is defined as the rate of inflation. Some food costs dipped. These readings would prove stubborn once again, paving the path for continued aggressive by the Fed in the next few months. PSA recently posted the inflation rate for October 2022 which, based on a report on ABS-CBN News, the government agency cited at 7.7% - it is the highest rate in 14 years since the 7.8% rate in December 2008 amid a global financial crisis. Updated: October 13, 2022. No, at least not entirely, although the timing remains unclear. Chart of U.S. Inflation Rate with Forecast Year over Year Percent Change In CPI. Headline CPI continues to show peak inflation in the rear-view mirror, if only modestly, but core inflation continues to rise to new heights. April 2022. On a monthly basis, consumer prices edged up a larger-than-expected 0.4%after a 0.1% increase in August. Inflation rates are usually tracked every month and published by government authorities - The Sept 2022 report is scheduled for release between Oct 10 to 13 by the Bureau of Labor Statistics. This is the latest Consumer Price Index and Inflation Rate data for the United States. These numbers are released by Statistics Canada. … I cant get this time back.. October 3, 2022 | 12:03 am. And pork climbed 1.8% and 6.7% from a year ago. The CPI numbers for September is a study in contrasts. INFLATION likely quickened in September due to higher electricity rates and food prices as well as the continued depreciation of the Philippine peso, according to analysts. South Africa is able to reduce the inflation rate from 7.8 per cent to 7.5 per cent by increasing the policy rate by 225 bps, the industry body said. Peak Inflation Watch: 14 October 2022. The CPI report suggests that the Fed will continue to raise rates aggressively. The Fed takes measures to control . Currently, the inflation rate in the US has gone up big time from a mere 1.4% in January 2021 to a whopping 8.6% as of July 2022. Beyond inflation, these other economic factors could affect you and are worth watching, The government on Thursday also announced that Social Security benefits are set to rise by 8.7% next year, Your California Privacy Rights/Privacy Policy. However, the implication of optionality does not automatically mean that the Federal Reserves next move will be of a smaller increment. Bloomberg via Getty Images An inflation of 1 4.3 perce nt in October 2022 means that consumer product prices were 14.3 percent higher than in October 2021. Read the full story. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. US Inflation Relief: Latest Updates . Theynow buy items such as canned vegetables, soda and paper towels in bulk, saving more than $100 a month. Depending on the indicator of choice, theres supporting evidence for deciding that worst of the inflation surge is behind us. The overall year on year inflation rate as measured by the Consumer Price Index (CPI) was 9.6 per cent, in October 2022. Social Security checks to go up:Cost-of-livingbenefits get 8.7% boost n 2023. James Picerno is a financial journalist who has been writing about finance and investment theory for more than twenty years. Headlines: Monday, 31 October 2022 - Dow Jones on track to have best October ever up over 14%, . US stocks face a make or break moment with the October CPI report with investors split on the Fed's December rate move. He hasalso become an avid do-it-yourselfer, changing the oil in his truck and buying a $600 tractor so he can do his own landscaping. They used to take at least two big vacations a year. 36.6%. Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors. Here's how we got that rate: Interest rate changes depend on when we issued the bond Although we announce the new rates in May and November, the date when the rate changes for your bond is every 6 months from the issue date of your bond. The annual increase for the average hourly earnings of all private employees has turned lower recently, slipping to 5.0% through September, the slowest this year. If we're generous, the case for arguing that inflation has peaked is mixed. The annual increase for the average hourly earnings of all private employees has turned lower recently, slipping to 5.0% through September, the slowest this year. (View Release Schedule for details on upcoming releases) https://www.dailyfx.com/economic-calendar#2022-11-09. September 2022. Current USA inflation rate. If we're generous, the case for arguing that inflation has peaked is mixed. Analysts' September 2022 inflation rate estimates. Economists say the report will do little to dissuade the Fed from approving a fourth straight outsize hike in interest rates early next month to tame inflation. Losses can exceed deposits. A key US inflation gauge stayed at a high 6.2% in September. Kiplinger's Economic Outlooks are written by the staff of our weekly Kiplinger Letter and are unavailable elsewhere. On that basis, the ongoing rise in core CPI is a new warning that inflationary pressures haven't peaked yet. In response to the inflationreport, the stock marketinitially tumbled, then recovered as investors seemed reassured by last month's slight slowing in price increases. Iran. sep 2022. The saving rate fell to 3.1%, just above 3% in June, which was the lowest level in 14 years. Click here for a free issue of The Kiplinger Letter or for more. But inflation's persistence in leading many Americans to dramatically modify their behavior. Upending their lives: America's aching economy is forcing tough choices. The US is able to reduce the inflation rate from 9.1 per cent to 8.2 per cent by increasing the Federal Reserve rate by 275 bps. Stubborn readings could translate into sustained elevation in Fed rate hike odds, which while good news for the US Dollar, will likely not be the case for US stocks and gold prices. From a month earlier, the core. October 10, 2022; Inflation Forecast 2022: In June 2022, the US recorded the highest consumer price inflation rate at 9.1%. FX PUBLICATIONS IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. The Current US Inflation Rate is 8.3% for August 2022. Download 749. That's a harsh dose of medicine, but history suggests it almost always works eventually. Currently the Cleveland Fed's nowcast has October CPI inflation running at +0.76% month-on-month. Did the Federal Reserve make an epic mistake by not hiking interest rates sooner? The upcoming October US inflation report (consumer price index) might offer a small glimmer of hope that peak inflation remains in the rearview mirror. In September, the price of rice rose 1% from the previous month and 13.6% from a year earlier. Food, alcohol and tobacco prices also climbed. The Fed raising interest rates could lead the economy to a recession. And while price increases are slowing, their broad-based effects ensure the pullback will be gradual. Medical-care services increased 0.7% and 6.5% yearly. In 2022 the US economy contracted for two consecutive quarters after experiencing record inflation not seen since 1981. Canada +6.9%. This means the 1 4.3-perce nt inflation in October was not on top of the 1 4.5-percent i nflation in September. Economists see a still high CPI inflation coming in the October U.S. Bureau of Labor report (Thursday, Nov. 10 at 8:30 AM). All rights reserved. However, it is still high. Mark Zandi, chief economist of Moody's Analytics, analyzed United States Consumer Price Index components following the May 2022 report that showed an 8.6% inflation rate in the US. But US inflation clocked in at 4.7 per cent in 2021, and the IMF now expects a rate of 7.7 per cent this year. Profiling the data via CapitalSpectator.com's Inflation Bias Indexes makes this clear by way of the recent upturn in core CPI. Per Econoday consensus estimates are 8% for CPI All-Items (vs 8.2% for . In fact, according to the Federal Reserve System and statistics released by The Bureau of Labor Statistics (BLS), the combination of the increased oil production prices, gas prices, and the effects of the COVID-19 . National Statistics Office of Georgia is established by the Law of Georgia, dd 11 December 2009, on Official Statistics. Find out more about top cryptocurrencies to trade and how to get started. Amber Flack, 45, of Pickerington, Ohio, has noticed the drop in gas prices, but that hasnt led her to return to her pre-pandemic spending habits because her grocery bill keeps climbing. Headline CPI continues to show peak inflation in the rear-view mirror, if only modestly, but core inflation continues to rise to new heights. The annual inflation rate for the United States is 8.2% for the 12 months ended September 2022 after rising 8.3% previously, according to U.S. Labor Department data published Oct. 13. It will offer the rate of inflation over the 12 months ended October 2022. October saw the hiring of employees in full swing by companies in America even as inflation rates . INFLATION likely quickened beyond 7% in October amid surging food prices and broadening second-round effects, analysts said. "Most people have felt like we are just about to turn, whether it be on jobs or on inflation, and it doesn't happen and it doesn't happen and it doesn't happen." How people are 'barely making it' work. The inflation rate is reaching a peak as lower prices of fuel, natural gas and big-ticket items help to cap price increases. It's unclear if this is noise that will soon resume the downward bias that had been persistent until recently. Consumer prices forecast to show continued strength in October, Upside surprise could raise risk of higher peak interest rates, JPM's Kelly: US Inflation Has Peaked, Time to Invest, Meta to Cut 11,000 Jobs; Zuckerberg Says I Got This Wrong, Stocks Rattled by Crypto, Earnings Woes Before CPI: Markets Wrap, Twitter Now Asks Some Fired Workers to Please Come Back, Crypto Market Rout Deepens as Binance Drops FTX Takeover Offer, Stocks Notch Three-Day Rally Ahead of Vote Results: Markets Wrap. Core CPI rose to 6.6% on an annual basis (in unadjusted terms) through September, edging above the previous top in March and thereby reaching a 40-year high. According to the Cleveland Fed inflation nowcasting tool, the US economy experienced headline inflation of +0.76% m/m and +8.09% y/y in October, with core inflation at +0.54% m/m and. National Statistician Dennis Mapa said on Friday, November 4, that the 7.7% posted in October 2022 is the highest since December 2008's 7.8%, when the world suffered a financial crisis. In 2020, core inflation was 1.70%. Consumer prices increased 8.2% from a year earlier, down from an 8.3% rise in August and a four-decade high of 9.1% in June, as climbing food and rent costs again offset falling gasoline prices, according to the Labor Department's Consumer Price Index. According to a Bloomberg News survey, headline US inflation figures are due in at +0.6% m/m from +0.5% m/m and +8% y/y from +8.2% y/y, while core readings are expected at +0.5% m/m from +0.6% m/m and +6.6% y/y from +6.3% y/y. . Canada's inflation also slowed to 7.6% in July, but it is still far above the Bank of Canada's 2% target. The U.K.'s inflation dipped from 10.1% in July to 9.9% in August after a drop in petrol prices. If correct, a hefty dose of inflation taming may be near. And new-vehicle costs advanced 0.7%, and 9.4% annually. Find out more about the major currency pairs and what impacts price movements. Consumer prices increased 8.2% from a year earlier. While many analysts and market participants are expecting (hoping) that the Federal Reserve will begin a pivot from dramatic and strong rate hikes at each FOMC meeting to a pause in hikes . Ive got to provide for my family, he said. A notable time for inflation was the early 1980's during the recession. This data was released on for the reference month of October 2022. FX Publications Inc is a subsidiary of IG US Holdings, Inc (a company registered in Delaware under number 4456365). The July and August inflation reports have been in line with that projection. He and his two teenage daughters no longer dine out and have scrapped their annual three-week trip to Italy and monthly visit to the mall. Yields and prices move inversely. While he could afford to maintain his lifestyle on his engineers salary, he worries about setting aside enough money for his daughters college expenses and his own retirement. Michael Rossini, 57, of Randolph, Massachusetts, is shelling out an additional $55 or so a week on groceries. The Federal Reserve focuses on core inflation for several reasons, including the empirical evidence that it tends to offer a better estimate of the trend compared with higher short-term volatility of its headline counterpart. INFLATION likely quickened beyond 7% in October amid surging food prices and broadening second-round effects, analysts said. Our guide explores the most traded commodities worldwide and how to start trading them. In October 2019, the International Monetary Fund's (IMF) World Economic Outlook forecast that US inflation would be 2.4 per cent in 2021 and 2.3 per cent in 2022. Cakes, cupcakes and cookies jumped 1.8% and are up 16% annually. Consensus forecasts are looking for headline US inflation to come in at +8% y/y and the core reading to come in at +6.3% y/y. And while overall inflation is softening gradually, a key measure of underlying price gains hit a new historic level last month. How should I interpret the dates on the Excel spreadsheet? But there's also data to assert the opposite, as yesterday's update on consumer prices reminds. Ethiopia. And filling up his pickup truck now costs $170, up from $100 before the inflation spike, even after the summer drop-off in pump prices. Economists project the consumer price index and the core measure that excludes food and energy both cooled on an annual basis, but to rates still consistent with persistent and elevated inflation. This is higher than the long term average of 3.27%. But there's also data to assert the opposite, as yesterday's update on consumer prices reminds. Fed funds futures are currently pricing in a near certainty of another 75-basis point hike at the next FOMC meeting on Nov. 2. The October inflation report is due November 10. Rising interest rates could mean slowing job growth in . Read the full story. ET. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. She and her family are spending up to $1,000 a month on groceries, up from no more than $600 before the price surge. INFLATION likely quickened beyond 7% in October amid surging food prices and broadening second-round effects, analysts said. But, he said, my quality of life has gone down.
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