10 November 2022 | Other

Inflation in the US in October is likely to rise slightly compared to last month

The US inflation rate remained consistently high in October, despite the Fed's attempts to curb record-breaking prices.

The publication of the Consumer Price Index (CPI) for October by the Bureau of Labor Statistics was scheduled for 8:30 a.m. ET on Thursday. The forecasts of economists surveyed by Bloomberg are related to the fact that key data will show an accelerated monthly growth of 0.6% from 0.4% in September, which was to some extent facilitated by the first jump in energy prices in four months.

According to forecasts, the broadest measure in October will be 7.9% year-on-year, which is slightly lower than the September level of 8.2% year-on-year. In addition, the Core CPI, which excludes volatile components such as food and energy, is forecast to be 0.5% on a monthly basis and 6.5% on an annual basis, having changed insignificantly compared to 0.6% and 6.6%, respectively, last month.

The Fed is closely monitoring "core" inflation, which allows policymakers to look more specifically at areas of production such as, for example, housing. The headline CPI has changed on the contrary due to unstable energy prices this year.

Economists at Bank of America (BofA) expect housing to be the main driver of October's key indicators again, as housing costs account for almost a third of the consumer price inflation basket.

Company MarketCheese
Period: 30.04.2026 Expectation: 1100 pips
Buying AUDCAD from support zone
27 March 2026 28
Brent sell
Period: 03.04.2026 Expectation: 920 pips
Brent crude is poised to dip further on rising selling pressure above $106.00
27 March 2026 49
Period: 03.04.2026 Expectation: 950 pips
USDCAD gains ground on risk aversion and soft Canadian data
27 March 2026 28
Period: 31.05.2026 Expectation: 3500 pips
GBPUSD selloff takes hold as UK inflation expectations soar
27 March 2026 19
Period: 30.04.2026 Expectation: 1400 pips
Selling GBPUSD down to 1.3200
27 March 2026 19
Period: 30.04.2026 Expectation: 1300 pips
Investing in SPX from $6,640
27 March 2026 18
Go to forecasts