US consumer prices increased as expected in October, and progress towards low inflation has slowed since the middle of the year, which could result in fewer interest rate cuts from the Federal Reserve in 2025.
The consumer price index (CPI) rose 0.2 per cent for the fourth straight month, the Labour Department's Bureau of Labour Statistics said on Nov 13.
In the 12 months through October, the CPI advanced 2.6 per cent after climbing 2.4 per cent in September.
Economists polled by Reuters had forecast the CPI gaining 0.2 per cent and increasing 2.6 per cent year on year.
The up-tick in annual inflation also reflects 2023's low reading dropping out of the calculation.
This story is from the November 14, 2024 edition of The Straits Times.
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This story is from the November 14, 2024 edition of The Straits Times.
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