- Annual CPI falls from 8.2% to 7.7%, less than the 8.0% consensus.
- Core CPI rises 0.3% in October, below the 0.5% expected.
- The dollar collapses after the data.
The Consumer Price Index (CPI) rose in October at a 0.4% pace, less than the 0.6% market consensus. The annual rate went from 8.2% in September to 7.7% in November, less than the expected 8%.
Core CPI rose 0.3% in October, less than the 0.5% consensus. The annual rate fell from 6.6% to 6.3%, that is, it fell more than expected by the market, which was a reading of 6.5%.
The data will be key to the expectations about what the Federal Reserve will do in the next meeting on December 13 and 14. The unknown is in the magnitude of the rise. Today’s figures may push the decision towards a less aggressive hike. Therefore, the dollar is falling sharply.
At the same time, the weekly report of requests for unemployment benefits was published.
Source: Fx Street
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