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Here’s What Analysts Say the October CPI Inflation Report Will Show (VIDEO)

With the October Consumer Price Index (CPI) Report Set to Be Released Tuesday at 8:30 AM EST, Here's What Investor Can Expect

Last Updated: 25.3.2024 2:35

On Tuesday morning the October Consumer Price Index (CPI) report will be released at 8:30 am EST, giving the market and the Federal Reserve a look at the current state of U.S. inflation ahead of the Fed’s next decision on interest rates.

According to Bloomberg, analysts expect the October CPI report to show headline inflation of 3.3%, down from 3.7% in September. On a month-over-month basis, it’s expected that consumer prices will show a slight rise of 0.1%, down from the 0.4% increase reported in September.

The recent decline in gas prices will likely have contributed to October’s slightly lower headline inflation. According to BofA, energy prices should drop another 1.8% month over month.

Core inflation, which doesn’t include food and gas prices, is slated to come in at 4.1%. September’s core inflation was also 4.1%

Source: Schwab Network YouTube

Also Read: Top High-Yield Savings Accounts to Take Advantage of Lofty Interest Rates in 2023

While the reduction in headline inflation should bring about some optimism, Wells Fargo warned in its recent note:

“Subdued increase in October’s headline CPI is likely to be overshadowed by another firm reading in the core.”

Despite headline inflation still being well above the Fed’s magic number of 2%, investors are betting on another Fed pause in December, likely influenced by comments made by Fed Chair Powell at the last meeting.

Per CME Group data, as of this afternoon, the market is projecting an 86% chance that the Fed won’t raise interest rates in December.

Stay tuned.

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Ryan Troup

Ryan Troup is the Editor in Chief of Wealthy VC and TCI. Ryan has 15+ years of investing experience. Twitter | Email

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