OAN’s James Meyers
8:30 AM – Tuesday, November 14, 2023
Inflation fell for the month of October according to the latest report.
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Data reported by the Bureau of Labor Statistics revealed that inflation dropped half a percentage point to 3.2% for the year ending in October.
The decline comes after a peak of 9% inflation in June last year. Prices on all gasoline dropped by 5% in October compared to last year, the report showed.
“Net, net, there’s no inflation this month, which will ring loud and clear in the markets around the world that Fed officials are done with interest rate hikes this year,” said Chris Rupkey, chief economist at FWDBONDS. “The Fed always wants to see more progress, but it is looking like the inflation battle has rounded the corner and is heading for home in the race to…
