The US Department of Labor will not publish the year-on-year consumer price index (CPI) data for October. According to CNBC, a year-over-year comparison is not feasible because data collection was halted a year ago due to a government shutdown.
In September, the yearly inflation rate in the United States rose to 3.7%, an increase from 3.4% in the prior month, reaching its highest point since April.
On Tuesday, the US Department of Labor published solely the month-on-month statistics for headline and core inflation. Consumer prices grew by 0.6% in October relative to September, while core prices (excluding food and energy) saw a rise of 0.3%. In September, these numbers increased by 0.3% and 0.2%, respectively.
The Federal Reserve carefully observes inflation statistics, utilizing them to guide choices about its primary interest rate. The CME FedWatch tool indicates that the market now believes there is an 82.4% chance of the Federal Reserve increasing borrowing costs in its December meeting.
source: cnbc.com
