U.S. Consumer Price Inflation for October Matches Market Expectations: The U.S. Bureau of Labor Statistics released data
on Wednesday, showing that consumer price inflation for October was precisely
in line with analysts’ expectations despite a slightly higher annual growth rate than in September.
Content
U.S. Consumer Price Inflation
Economic Growth in the Eurozone
U.S. Consumer Price Inflation for October Matches Market Expectations
The U.S. Bureau of Labor Statistics released data on Wednesday
showing that consumer price inflation for October was precisely in line with analysts’ expectations
despite a slightly higher annual growth rate than in September.
According to the data, the annual inflation rate for the Consumer Price Index (CPI) reached 2.6% in October,
matching market expectations for the same growth rate, while the previous reading recorded 2.4% in September.
Every month, the CPI rose by 0.2% in October,
which was also in line with expectations, maintaining the same growth rate as in September.
Core inflation, which excludes food and energy prices,
remained steady at 3.3% annually in October,
consistent with expectations and the previous reading for September.
Core inflation increased by 0.3% monthly, aligning with market expectations and the September reading.
Economic Growth in the Eurozone Rises by 0.4% in Q3 Amid Declining Industrial Production
Preliminary data from the European Statistics Office “Eurostat” indicated
that the Eurozone economy grew by 0.4% in the third quarter of this year compared to the second quarter.
This result was consistent with previous expectations and the preliminary reading released earlier.
On an annual basis, economic growth in the Eurozone reached 0.9% compared to the same period last year.
However, industrial production in the Eurozone showed a larger-than-expected contraction,
with production decreasing by 2% in September, while expectations pointed to a 1.3% contraction.
The August reading had shown a growth of 1.8%, later revised to 1.5%.
This discrepancy highlights some of the economic challenges facing the Eurozone.
Economic growth occurs despite a contraction in the industrial production sector,
which is a key component of the region’s economic performance.
U.S. Consumer Price Inflation for October Matches Market Expectations