Source: CBS News
“U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker labor market. That matched forecasts from economists polled by FactSet that the Consumer Price Index rose 2.6% in October. The CPI rose 2.4% in September, when the Fed ushered in a jumbo rate cut of 0.5 percentage points, followed by a second rate cut this month. The slight rise on a month-over-month basis signals that the Fed’s battle to tame inflation to its goal of a 2% annual rate might take a bumpy path over the next months.” (11/13/24)
https://www.cbsnews.com/news/cpi-report-october-2024-inflation/