2024-11-15
The Consumer Price Index (CPI), which
measures changes in the price level of a market basket of consumer goods and
services over time.
The Consumer Price Index (CPI) released on November 13, 2024, increased by 0.2% in October 2024, bringing the 12-month inflation rate to
2.6%. This was in line with economists' expectations.
Core CPI: Excluding food and energy,
the core CPI accelerated by 0.3% for the month and was at 3.3% annually, also
meeting forecasts.
Shelter Prices: Shelter prices
continued to be a major contributor to the CPI increase, rising by 0.4% in
October and 4.9% annually.
Energy Costs: Energy costs were flat in
October, while food prices increased by 0.2%.
Market Reaction:
A 0.2% monthly increase suggests
moderate inflation for the month, consistent with a steady price growth trend.
A 2.6% yearly increase is relatively
mild inflation in most economies, assuming central banks typically target
around 2% annual inflation.
Following the release, stock market
futures nudged higher, and Treasury yields fell. Traders also raised the odds
that the Federal Reserve will cut its key interest rate by another quarter
percentage point in December.
Bitcoin
has crossed $88,000 and it is now trading at 88,065.
