Core CPI prices rose 0.2% in October
Core CPI prices rose 0.2% in October, which was in line with expectations. The year-over-year core CPI inflation rate slipped to 2.1% from 2.2% (essentially on rounding to 2.14% from 2.17%). Overall CPI prices gained 0.3% in October and the 12-month headline inflation rate rose to 2.5% from 2.3%. This inflation report is pretty much as expected and shows no change in inflation trends. Looking forward, PPI prices suggest upward pressure on core goods prices, while wage data point to upward pressure on core services prices, and we expect core inflation to rise modestly over the next year. Over the next three months, however, headline inflation is likely to slow significantly on the feed-through of the drop in oil prices.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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