October Consumer Price Index: Hotter than expected
Matthew Pearce
THOUSAND PALMS, Calif. (KESQ) — October CPI reports released this morning show inflation outpacing forecasts, with readings exceeding expectations by 10 basis points in nearly every category.
Month-over-month core CPI came in above the 0.2% forecast at 0.3%. Year-over-year core CPI also exceeded expectations, coming in at 2.6%, compared with a forecast of 2.5%.
Month-over-month noncore CPI matched the forecast of 0.6%. However, year-over-year noncore CPI came in at 3.7%, exceeding the 3.6% forecast.
News Channel 3 is speaking with local business owners in the Coachella Valley to learn how persistent inflation has affected their prices.
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