Consumer prices index inflation falls to 1.5%, in a boost to households, thanks to lower energy bills
- Latest: London house prices down again
- CPI falls as energy cap kicks in
- Utility bills fell last month, but clothing costs rose
- Thanks, Ed Miliband!
Greg Daco of Oxford Economics shows how energy prices pushed US inflation up last month:
US CPI +0.4% stronger than expected: 50% of gain driven by energy prices +2.7% – #gasoline +3.7%
Core CPI +0.2%
– Shelter cost +0.1%: smallest since Oct’13
– Rents +0.1%: smallest since Apr’11
– Medical +1%: largest since Aug’16
– Recreation +0.7%: largest since Feb’96
Just in: US inflation rose last month, by more than expected.
Consumer prices rose by 0.4% during October, having been flat in September.
US headline CPI in October lifted to 1.8% from 1.7% (exp 1.7%). Core CPI softened against expectations from 2.4% to 2.3%. pic.twitter.com/PBq3mxDiOe
As for the #inflation issue, let’s be honest & not get bogged down in semantics. The #FederalReserve does not care about #CPI here. It cares about markets. If stock/credit markets waiver, it will cut more regardless of the data. Harsh policy interpretation? Nope. A realistic one.