Core CPI Rises In October; Bolsters Fed Hike View In December

awauU.S. stock indexes are rising this morning following the latest CPI data for October that showed consumer prices rose more than expected following 2 months of declining prices.

October CPI rose 0.2 percent, above the 0.1 percent forecast from, and above the 0.2 percent decline in September.

Core CPI, which strips out food and energy costs, rose 0.2 percent, matching estimates and in line with core CPI level from September.

The latest inflation reading viewed alongside the stronger than expected October jobs report, bolsters the likelihood of a December interest rate hike.

–                                                                                 -Johnathan Schweitzer

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