U.S. CPI falls to 9

By Geoffrey Smith 

-- The what is mt4app traderannual rate of inflation in the U.S. fell by more than expected in October, indicating that the worst of the post-pandemic price spike is over and bolstering hopes of an early end to the current cycle of interest rate increases.

rose 7.7% from a year earlier, down from 8.2% in September and clearly below the 8.0% consensus forecast. The current dynamic in prices also eased more than expected. with rising only 0.4% on the month, down from 0.6% in September, and - which strip out volatile food and energy elements - rising 0.3%, rather than the 0.5% expected. 

The headline rate of inflation has now fallen for four months in a row, from a peak of 9.1% in June. At 7.7%, it's now at its lowest riate since January. 

Financial markets reacted strongly to the news, pricing in an earlier and lower end to the Federal Reserve's monetary policy tightening. The fell nearly 1.5% before bouncing to trade at 109.18, down 1.2% on the day.  , meanwhile rose by 2.9% and rose nearly 3.7%.

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