US inflation rises to 2.6% in October as core measure remains firm

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US inflation rose to 2.6% in October from a year earlier, ticking up from the slowest rate in more than three years in September.

The Consumer Price Index figure, released by the US Bureau of Labor Statistics today (13 November), was up from 2.4% the previous month and marked the first increase since March this year. The core CPI measure, which strips out volatile food and energy items, remained steady, rising at an annual pace of 3.3%. On a monthly basis, headline CPI increased by 0.2% in August, the same increase as in each of the previous three months. Federal Reserve cuts rates by 25bps amid persistent economic growth Housing prices rose 0.4% in October, accounting for over half of the monthly all time in...