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US consumer prices in October increased by 6.2%


November, 10 2021
watermark Economic news

According to recent statistics, consumer prices in the United States in October rose more than forecasts suggested. This led to the highest annual increase in inflation since 1990.


Thus, inflation in the United States in October amounted to 0.9% on a monthly basis, while analysts predicted growth of 0.6%. Experts also note that inflation may remain high next year against the background of global supply chain problems.


In annual terms, the consumer price index (CPI) increased by 6.2% against the forecast of growth of 5.8%.


Excluding food and energy prices, consumer prices rose by 0.6%, with a growth forecast of only 0.4%. On an annualized basis, the base index grew by 4.6%, the forecast is an increase of 4.3%.


Meanwhile, data on the number of applications for unemployment benefits came out: it fell to 267 thousand, while analysts assumed the figure at the level of 265 thousand. Such figures were the lowest since mid-March 2020.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.