BREAKING NEWS! Expected data for gold and silver has been announced! Market direction reversed
Housing and food prices pushed inflation up, the increase in energy prices slowed down
Quick Look
- October Consumer Price Index in the USA increased by 0.4% on a monthly basis.
- The housing index increased by 0.3% and the food index increased by 0.5%.
- The energy index increased by 0.7%, but the rate of increase slowed significantly from 5.2% in September.
AI-generated summary
Why It Matters
The US Bureau of Labor Statistics (BLS) published Consumer Price Index data for October. Monthly inflation was recorded as 0.6% in September.
October inflation data in the USA has been announced. According to data published by the US Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) increased by 0.4 percent on a monthly basis in October. Following the monthly inflation recorded as 0.6 percent in September, there was a slowdown in the price increase rate.
HOUSING AND FOOD PRICES PUSHED INFLATION UP
The housing index increased by 0.3 percent in October. Housing costs accounted for more than 30 percent of the total increase in monthly inflation.
The food index increased by 0.5 percent in the same period. Prices of food consumed at home increased by 0.4 percent, and prices of food consumed outside increased by 0.5 percent.
The energy index increased by 0.7 percent in October. There was an increase of 5.2 percent in this item in September. Thus, the monthly increase in energy prices slowed down significantly compared to the previous month.
CORE INFLATION INCREASED BY 0.3 PERCENT
Core CPI, which excludes food and energy prices, increased by 0.3 percent on a monthly basis in October. The increase in core inflation was at the same level in August and September.
Price increases were seen in entertainment, health services, motor vehicle insurance, household goods and services and education items in October.
On the other hand, a decrease was recorded in used car and truck prices and the communication index.
GOLD AND SILVER FALLED HARD
Following the critical data, an ounce of gold fell towards the $ 4,000 threshold, losing more than 2 percent. An ounce of silver fell below 52 dollars.
While gram gold fell below 6,550 TL, gram silver fell below 84 TL.
Open Questions
- What is the inflation rate on an annual basis?
- How can the Fed's interest rate decision be affected by this data?
- Which items' price increases were most noticeable to consumers?
