Share this @internewscast.com

The U.S. government will release its latest report on consumer prices Tuesday morning, and experts think it will show that inflation is continuing to slow down.

Economists surveyed by Dow Jones Newswires and The Wall Street Journal think the Bureau of Labor Statistics report will show that prices rose 0.1% compared to September, and 3.3% compared to October 2022.

Core prices, which exclude food and energy prices because they can be highly volatile, are expected to rise 0.3% from September, and 4.1% compared to October 2022.

In September, overall prices rose 0.2% from the month before, and 3.7% over the previous 12 months.

The report will be a major factor in the Federal Reserve’s next decision on interest rates. The central U.S. bank will meet for the final time this year Dec. 12 and 13.

Based on options market data, the CME Group’s FedWatch Tool predicts the Fed will leave interest rates where they are, in the range of 5.25% to 5.5%. The central bank also left rates alone in September and October after a series of steep increases throughout 2022 and early this year.

EY Chief Economist Gregory Daco wrote last week that overall prices may have even decreased slightly from September to October compared to the month before because gasoline prices fell sharply.

“A moderate 0.3% m/m in core CPI (excluding food and energy) was offset by a significant 3% decline in energy prices driven by a plunge in gasoline prices,” he said.

Officials including Fed Chair Jerome Powell have suggested that the central bank is comfortable with the progress it has made in reducing inflation so far. U.S. inflation peaked at 9.1% annually in June 2022, so it has slowed significantly even though it remains well above the 2% rate the Fed says it wants to achieve.

Share this @internewscast.com
You May Also Like
Officials investigating after deadly crane collapse in commercial area north of Boston

Tragic Crane Collapse Under Investigation in Boston’s Northern Suburbs

Tragedy struck just north of Boston on Friday, as a crane collapse…
Progressive Zohran Mamdani taking his case directly to Fox News’ conservative viewers

Progressive Powerhouse Zohran Mamdani Faces Fox News: A Bold Move to Connect with Conservative Viewers

Zohran Mamdani, a leading Democratic mayoral candidate known for his democratic socialist…
Oswego, IL Chick-fil-A: Darryl Lee Jr., 19, charged with murder in stabbing, attack at restaurant on Route 34 held in custody

Oswego Chick-fil-A Stabbing: 19-Year-Old Darryl Lee Jr. Charged with Murder at Route 34 Restaurant

A man implicated in a fatal stabbing incident at a Chick-Fil-A in…
US says it now plans to deport Abrego Garcia to Liberia as soon as Oct. 31

U.S. Set to Deport Abrego Garcia to Liberia by October 31: Immigration Update

In the latest chapter of a contentious legal saga, the U.S. government…
Fetterman, McCormick Unite in Bipartisan Push to Reopen Government

Fetterman and McCormick Lead Bipartisan Charge to End Government Shutdown

On Thursday, Senators John Fetterman (D-PA) and Dave McCormick (R-PA) stood united…
NATO fighter jets scrambled after Russian planes allegedly violate airspace

NATO Jets Respond to Suspected Russian Airspace Breach

Two Spanish fighter jets on NATO air policing duties were dispatched after…
California union proposes taxing billionaires to offset Medicaid cuts for low-income people

California Union Advocates for Tax on Billionaires to Counteract Medicaid Reductions for Low-Income Residents

SACRAMENTO, Calif. — On Thursday, a significant union proposed a one-time 5%…
Fox News True Crime Newsletter: Alex Murdaugh's empire, BTK's family fallout, Bryan Kohberger's money woes

Unraveling Secrets: Alex Murdaugh’s Empire Crumbles, BTK Family Faces Fallout, and Bryan Kohberger’s Financial Struggles

‘HE KNEW HOW TO SWIM:’ The mystery surrounding a tragic death in…
Vermont police search for student who vanished from Middlebury College

Tragic Discovery: Missing Vermont Student Lia Smith’s Body Found Near Middlebury Campus

During the search for a missing Vermont college student, a body has…
'Brazen' Louvre thieves made targeted heist, treasures could be melted down: expert

Inside the Heist: A Cinematic Jewel Theft Unfolds in Paris

Every now and then, journalists come across stories so extraordinary that even…
ABC7 Sports Overtime: Dionne talks Chicago Bears win streak, Blackhawks point streak, Fire in playoffs

ABC7 Sports Overtime: Dionne Discusses Chicago Bears’ Winning Streak, Blackhawks’ Continued Success, and Fire’s Playoff Journey

Chicago sports enthusiasts have plenty to cheer about these days, especially with…
Frantic manhunt launched after asylum seeker who sexually assaulted teen accidentally freed from prison

Intense Manhunt Underway: Asylum Seeker Mistakenly Released After Teen Sexual Assault Conviction

Criticism has been directed at the UK’s immigration system following the inadvertent…