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The U.S. Consumer Price Index (CPI) inflation is set to drop from an annual 3.7% rate in September to a 3.3% rate in October, marking the first drop since June 2023, according to the median economist consensus.
The eagerly awaited U.S. CPI report for October is set to be released by the Bureau of Labor Statistics at 8:30 a.m. ET on Tuesday, with investors and policymakers alike closely monitoring this crucial economic indicator.
While a decline is expected, the path to stabilizing inflation remains complex, with potential implications for future interest rate adjustments.
In his latest public remarks, Fed Chair Jerome Powell acknowledged that the journey to return inflation to the 2% target still has a long way to go. According to the Fed’s economic projections from September, it is expected that the inflation rate will settle at 3.3% by the end of 2023 and decrease fu …
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