Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. CPI rose just 0.045% in October from a month earlier, while core CPI added 0.227%, both a tenth lower than Wall Street expected, despite housing inflation coming in on the high side of forecasts, data from the Bureau of Labor Statistics showed Tuesday.
Over the past 12 months, CPI slowed to 3.2% from 3.7% and core CPI ticked down to 4.0% from 4.1% a month earlier, the smallest annual rise since September 2021. The 10-year U.S. Treasury lost 12 bps on the softer-than-expected data and the dollar fell versus other major currencies. Softer inflation should support the argument to keep Fed rates on hold again next month.
The owners' equivalent rent index pulled back to 0.41% to 0.56% a month earlier, but the rise offset a 5.0% decline in the gasoline index. The rent index rose another 0.50% in the month, compared to analysts expectations ranging from 0.34% to 0.50%. (See: MNI INTERVIEW: Most of Housing Effective In Recession-Fannie)
Core goods inflation was negative for a fifth straight month while core services inflation came in at 0.34%, the softest since June, according to MNI calculations. Auto insurance, medical care, recreation and personal care prices also rose, while hotels, used cars and trucks and airfares fell.
Source: BLS
Source: BLS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.