US Inflation Stabilises, Markets Express Relief
Consumer price growth held steady in the United States last month, avoiding a widely-feared surge, and giving the Federal Reserve room to ease policy settings in December. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index – with highly-volatile food and energy prices excluded – rose 3.3 percent in October from the same period last year, up 0.3 percent on a month-over-month basis, while matching September’s pace. This was in line with consensus estimates among economists polled by the major data providers ahead of the release, suggesting that hurricanes Helene and Milton...