US inflation rose 0.4% in October, hotter than expected, boosting chance of a Fed rate hike

Summary

Monthly US inflation rose 0.4% in October, a stronger than expected figure that comes as last year's government shutdown prevented data collection, the Financial Times reported on Tuesday 10 November, The Guardian headlining that US inflation rose 0.4% in October as price increases cooled and gas costs dipped. US inflation was higher than expected last month in a sign that the rising prices that powered sweeping Democratic victories in last week's midterm elections will continue to pose challenges for the White House and Federal Reserve, The Independent reported, writing that the figure boosts the chance of a Fed rate hike, Fed governor Christopher Waller having said earlier on Tuesday that a hike of a half-point next month was possible. The Financial Times wrote that the hot US inflation seals a December rise and brings a larger increase into play, energy inflation having largely dropped out of the headline rate in October and added to worries of inflation persistence.

Latest: Monthly US inflation rose 0.4% in October, a stronger than expected figure, the Financial Times reported, The Independent writing that inflation ran hotter than expected, boosting the chance of a Fed rate hike, Fed governor Christopher Waller having said earlier on Tuesday that a hike of a half-point next month was possible, and the Financial Times that the hot US inflation seals a December rise and brings a larger increase into play, while The Guardian headlined that price increases cooled and gas costs dipped.

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