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U.S. CPI rose in line with market expectations

Tuesday, Nov 17 2015
The cost of living excluding food and fuel rose again in October after picking up the prior month, showing inflation edging closer toward the Federal Reserve’s goal. The core consumer-price index increased 0.2% for a second month as rents continued to climb and health-care costs rebounded, a Labor Department report showed Tuesday. This was in line with market predicitions. It was the strongest back-to-back readings since May and April. Including the volatile food and fuel categories, the index also advanced 0.2%.
 
While weak global growth and a strong dollar have held down the cost of commodities such as fuel, Americans are paying more for services including rents and medical care. Fed officials, considering the first benchmark interest-rate increase since 2006, are looking for signs that labor-market progress will help boost inflation to around 2 percent.
 
Euro is currently being traded few points below 1.0670 level, Sterling is around 1.52 handle, while Aussie is above 0.7120 area. Later today, Industrial Production figures are scheduled for a release.
More in this category: « Economic Sentiment for Germany up for the first time in seven months Australian Wage Price Index rose 0.6% »

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