US CPI October 2024 Report: Live Inflation Data, Consumer Price Index News

From Bloomberg Economics Anna Wong:

“The October CPI report remains in the same holding pattern as in recent months – inflation is not rising again, but it is not cooling down any faster either. Disinflation has stalled in the core goods sector, largely due to unfavorable seasonal factors in used cars. Weaker fundamentals, including higher inventory-to-sales ratios and higher auto loan interest rates, are likely to keep price increases contained in the medium term. However, aside from cars, disinflation in goods remains widespread, and there is no sign that leading business ahead of possible new tariffs has boosted inflation.

“The October CPI report contains no information that would dissuade the FOMC from cutting rates again at the December meeting. Still, we see risks that the key outstanding information for the Fed’s preferred core PCE deflator – medical and financial services in the producer price index, due November 14th – could run hot in October. That could lead to concerns that underlying inflation remains at a high level of 2%, above the Fed’s target.”