Inflation in the US fell to 3.2% – Kommersant
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The consumer price index (CPI) in the United States at the end of October was 3.2% year on year, as follows from data Ministry of Labor. In September this figure was 3.7%. Inflation in the country turned out to be even lower than analysts predicted (3.3%). Compared to September, prices for consumer goods in the US did not change at all, although the monthly increase was expected to be 0.1%.
The main factor behind the monthly increase in CPI (by 0.2%), excluding food and energy, was housing rental prices. Food prices rose 0.3% from the previous month, while the energy CPI fell 2.5%, thanks in large part to a significant drop in fuel prices.
The unexpected decline in inflation most likely rules out the possibility that the US Federal Reserve will raise its key rate in December (a measure the Fed has repeatedly resorted to previously to reduce inflation to the target level of 2%). In early November, the Fed for the second time in a row saved key rates at 5.25–5.5%.
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