5 months ago 1 min read

October's Annual CPI Inflation in the U.S. Fell to 7.7%


According to a study released on Thursday by the U.S., the Consumer Price Index (CPI), which measures inflation in the country, showed a decline in October from 8% to 7.7% on an annual basis. Labor Statistics Bureau. This number came in below the market expectation of 8%.

The Core CPI, which excludes volatile food and energy prices, fell from 6.6% to 6.3% annually, below experts' predictions of 6.5%.

For the month, the CPI and the Core CPI came in at 0.4% and 0.3%, respectively, undershooting both expert predictions.

NatWest's Managing Director, John Briggs, said:

“It certainly shows how much the markets been keyed about, worried about and wants to run on CPI if you get any sort of help here.”

Treasury yields fell when the CPI report was released. The yield on the 10-year Treasury fell more than 18 basis points to 3.946%, falling under the critical 4% threshold. To reach 4.395%, the 2-year Treasury yield dropped by more than 23 basis points.

Market Response

Following the initial response, the U.S. Dollar (USD) was subject to significant selling pressure. At 109.45, the dollar index was last spotted down roughly 1% for the day.

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