In October, inflation in the United States accelerated, but the indicator was within analysts' expectations. According to the Bureau of Labor Statistics, the consumer price index increased by 0.2% month-on-month and reached 2.6% year-on-year. Excluding volatility in food and energy prices, the core consumer price index showed a more noticeable increase, increasing by 0.3% over the month and reaching 3.3% y/y. The market reaction to the data was restrained. U.S. futures rose slightly, and Treasury bond yields declined, as did the dollar. In October, energy prices stabilized, and the food price index increased by 0.2%. The housing price index, which has a significant weight in the overall index, also increased, accelerating the rate of inflation. These data underline that inflation remains above the Fed's 2% target. This may complicate the Fed's task of defining a monetary policy strategy, especially in light of the upcoming change of administration in the White House.
PAUTAN SEGERA
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