US: Annual core CPI in October ticked down to 2.3% vs. 2.4% expected
|- Annual core inflation ticked down to 2.3% in October.
- US Dollar Index moves sideways ahead of FOMC Chairman Powell's testimony.
According to the monthly data published by the United States (US) Bureau of Labor Statistics (BLS), inflation in October, as measured by the Consumer Price Index (CPI), ticked up to 1.8% on a yearly basis to come in higher than the market expectation of 1.7%. The core CPI, which excludes volatile food and energy prices, edged lower to 2.3% in the same period and missed experts' forecast of 2.4%.
On a monthly basis, the CPI came in at 0.4% and the core CPI rose to 0.2% from 0.1% in September.
The US Dollar Index largely ignored this data ahead of Federal Open Market Committee Chairman Powell's testimony and was last up 0.04% on the day at 98.37.
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