Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

U.S. CPI Surges to 30-Year Record High, 6.2% in October, Worse-Than-Anticipated

Beautiful wooden table, small chest with dollar bills

U.S. inflation rises to a three-decade record high of 6.2% last month, driven by supply constraints and strong consumer demand.

Source: U.S. Bureau of Labor Statistics.

DXY up +0.26%, EUR USD down -0.27%

Consumers’ average inflation expectation for three years has remained at 4.2% in October. On a monthly basis, the consumer price index in the U.S. rose by 0.9% against the estimate of 0.6%.

The core CPI, excluding volatile food and energy prices, rose by 0.6% against the estimate of 0.4%. Annual core inflation expanded at a 6.2% rate compared to the 4% forecast.

Fuel oil prices rose by 12.3% for the month. Energy prices expanded 4.8% in October and were up 30% for the 12-month period.

Used vehicle prices rose again being a major contributor, increasing 2.5% on the month and 26.4% for the year. New vehicle prices rose by 1.4% and 9.8% for the month and the year respectively.

Shelter costs increased by 0.5% for the month and are currently up 3.5% on a YOY basis, signaling more reason for worries that inflation could persist more than policymakers expect.


V12 Trading Review: An Unproven Forex Signals Service

Previous article

Cross Trading Profitable Strategy for 2022

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News