Dollar retreats as US inflation slows
Underlying consumer price growth decelerated in the United States last month, clearing the way for a second consecutive rate cut from the Federal Reserve at next week’s meeting, and putting downward pressure on the dollar. According to delayed data published by the Bureau of Labor Statistics this morning, the core consumer price index—with highly-volatile food and energy prices excluded—rose 0.2 percent in September, accelerating slightly from August’s 0.3-percent increase, and rising 3.0 percent on a year-over-year basis. This undershot consensus estimates among economists polled by the major data providers ahead of the release, and was the slowest pace recorded in...