Annual inflation in the US slowed to 3.2%

The consumer price index (CPI) in the United States at the end of October slowed to 3.2% in annual terms after 3.7% in September, reported The country’s federal bureau of labor statistics.

In monthly terms, the indicator did not change after an increase of 0.4% a month earlier amid falling energy prices (-2.5% after +1.5% in September). So-called core inflation, which excludes food and energy prices – the most volatile components of the index – slowed to 4% year-on-year from 4.1% in September. In monthly terms, the figure slowed to 0.2% after 0.3% in September.

The presented results turned out to be better than economists’ forecasts. Thus, analysts surveyed by Reuters expected that annual inflation in the United States would be 3.3% in annual terms and 0.1% in monthly terms. According to most experts and market participants, the US Federal Reserve System (FRS) campaign to tighten monetary policy is over. notes agency.

On July 26, the Fed raised its key interest rate by 25 basis points. p. – from 5-5.25% to 5.25-5.5% per annum, and at the next two meetings left it unchanged. Earlier, the US Department of Labor reported that inflation in the country as of September was 3.7% in annual terms, with a target of 2%. In 2022, prices in the US officially increased by 8%, in 2021 by 4.7%.

November 10 Fed Chairman Jerome Powell statedthat the regulator will “without hesitation” return to tightening monetary policy if it is appropriate. The Fed, he said, is pleased with the strong performance of economic growth and the labor market amid rate hikes, but there is still a long way to go to sustainably reduce inflation to the 2% target.