US October CPI reduces the likelihood of another 75 bps hike at December – Wells Fargo – by MSalordFX UnitedStates CPI Banks
rgo, the data reduces the likelihood of another 75 basis points rate hike at the December 14 FOMC meeting. “The overall consumer price index rose 0.4% in October, which was lower than expected. Gasoline prices helped to push up the overall CPI, but consumers caught a break with a smaller increase in food prices.”
“Today's news on inflation is certainly welcome, and it reduces the likelihood of another 75 bps rate hike at the December 14 FOMC meeting. That said, the core CPI rose at an annualized rate of 5.8% between July at October, which is still much too high for the Committee's liking. It likely will be a number of months yet until the FOMC feels confident that inflation is indeed receding back toward its target of 2%.
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