October CPI Report: What the Experts Are Saying About Inflation 

By Dan Burrows Inflation slowed markedly last month on both a headline and underlying basis, the October Consumer Price Index (CPI) showed Tuesday, giving support to the view that the Federal Reserve is done hiking interest rates interest rates this cycle, experts say. More importantly, the Fed could even start cutting rates by the middle of next year, they add. Moderating energy prices helped October’s CPI to rise by 3.2% on an annual basis, according to the Bureau of Labor Statistics. That represents a significant slowdown from the previous month’s 3.7% rise in prices, and is the lowest headline inflation reading since July. Economists were looking for headline inflation to increase 3.3% year-over-year. Inflation was unchanged on a monthly basis vs economists’ expectations for an increase of 0.1%. Prices rose 0.4% in September on a monthly basis.Core CPI, which excludes volatile food and energy prices and is considered to be a better predictor of inflation, increased 4% over the past 12 months – the slowest rate since September 2021. Economists forecast core CPI to rise 4.1% annually. October’s 0.2% increase in core CPI beat Wall Street’s 0.3% estimate. READ FULL ARTICLE >>