Inflation ‘Nowcast’ Tracker Suggests Price Pressures Increasing

[Epoch-Times-Bot]

Inflation 'Nowcast' Tracker Suggests Price Pressures Increasing

The trend of high inflation rates over the past few months looks all set to continue through October, according to a recent estimate by the Federal Reserve Bank of Cleveland.
October's Consumer Price Index (CPI), a measure of inflation, is predicted to be up by more than 0.8 percent from September, the Fed's "Nowcast" inflation forecast shows. Core CPI, which excludes food and energy, is expected to be up by 0.54 percent. The Fed projects annual CPI to be at 8.14 percent in October, with core CPI at 6.58 percent.
Data from the U.S. Bureau of Labor Statistics show that annual CPI has remained above 7.5 percent for every single month this year. It peaked at 9.1 percent in June, and was at 8.2 percent in September....

Source: Inflation 'Nowcast' Tracker Suggests Price Pressures Increasing

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