October Inflation Data Signals Potential Fed Policy Shift
In October 2024, U.S. inflation showed a continued upward trend, with the Consumer Price Index (CPI) rising by 0.2% for the third month in a row, reflecting consistent inflationary pressure on the economy. On an annual basis, CPI increased by 2.4%, ending a recent period of declining rates and raising fresh concerns among analysts. This steady increase in prices has occurred even as the Federal Reserve maintains its inflation target of 2%, prompting closer scrutiny of recent economic data.
The core CPI, which excludes volatile food and energy costs, remains elevated at 3.3%—slightly above market expectations and well over the Fed’s target. Analysts note that this persistent core inflation could push the Federal Reserve to reconsider its stance on monetary policy in the months ahead. With inflation staying higher than anticipated, there is growing speculation about potential adjustments to maintain economic stability.
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