The report from the Labor Department on Thursday showed the annual increase in consumer prices excluding the volatile food and energy components last month was the smallest in two years. With the labour market remaining tight,however, reaching the Fed's 2% inflation target could take some time, making it likely that the US central bank could keep rates elevated for longer.
Higher US Treasury yields and conflict in the Middle East are also seen discouraging the Fed from tightening monetary policy further.
This story is from the October 13, 2023 edition of Financial Express Mumbai.
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This story is from the October 13, 2023 edition of Financial Express Mumbai.
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