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The monthly consumer price index data will be coming out later today. General estimates point to a modest increase in inflation during the month of October.
Economists forecast that consumer prices will rise 0.3% on the month. Meanwhile, core CPI, which excludes the volatile food and energy prices, will rise by 0.2%.
This marks a modest increase from the month before. Headline CPI was flat in September while core CPI rose just 0.1%.
Despite the forecasts showing an increase on the month, on a yearly basis, no changes are expected for the annual inflation rate. CPI, on a year over year basis, will remain steady at 1.7%. Annual core CPI will also remain steady at 2.4%. Both these counts mark an unchanged print from the previous month’s reading.
With no changes coming up on the annual inflation rate, the headline CPI remains below the Fed’s 2% inflation target rate. Althou...
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