Inflation slows noticeably in October, CPI report shows annual U.S. inflation rate cooling more than forecast to 7.7%

[SaysWho?]

Dow futures surge more than 600 points after October inflation report is lighter than expected

 

Dow futures surge more than 800 points after October inflation report is lighter than expected

WWW.CNBC.COM

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Investors continued watching for election results while awaiting key inflation data.

 

[SaysWho?]

From @JustinWolfers, professor at University of Michigan.

 

Core CPI rose by 0.3% in October, which is 0.2 points below expectations, and down from 0.6% last month. It's now running at 6.3% over the year down from 6.6%.

 

This is a very encouraging inflation report. There's a good chance that inflation has peaked, and is now turning down.

 

Headline inflation also yields good news: Up only 0.4% in October, a rise that's 0.2% below consensus.

 

Inflation over the past year has been 7.7%, down from a rate of 8.2%. last month and a peak of 8.9% in June.

 

Again, it looks like inflation has peaked and is now falling.

 

Within core inflation, we're seeing roughly similar rates of inflation in the goods sector (5.1% over the year) as the service sector (6.7%).

 

But over more recent months goods inflation has pretty much stopped: -0.4% in October, 0% in September, and 0.5% and 0.2% in prior months.

[CitizenVectron]

I just need it to come back down by April 2025 when my mortgage renews. Locked into a 5-year fixed at 1.29%.

[Uaarkson]

Thanks Biden!

[outsida]