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Inflation Report Leaves Fed on Track for 0.5-Point Rate Rise in December
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The October inflation report is likely to keep Federal Reserve officials on track to approve a half-percentage-point interest-rate increase next month, stepping down from the recent pace of unusually hefty rate rises.
The Labor Department reported Thursday that consumer prices rose at a slower pace in October than in recent months. Core prices, which exclude volatile food and energy items, rose 0.3% from September, the smallest monthly gain in one year, and by 6.3% on a year-over-year basis, down from 6.6%.
Read more on wsj.comAbout this in other media
Fed Chair Powell says smaller interest rate hikes could start in December cnbc.com /1 year ago
Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December wsj.com /1 year ago
October Inflation Report Shows Consumer Prices Rose 7.7% From Year Earlier wsj.com /1 year ago
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