The latest reading on inflation will be a major focus on Thursday with the release of October's consumer prices.
Payne Capital Management president Ryan Payne and Belpointe chief strategist David Nelson preview October’s consumer price index on ‘Mornings with Maria.’The Bureau of Labor Statistics is expected to say the consumer price index jumped 0.6% month-over-month in October, up from 0.4% in September and the third month of accelerating growth.
On a year-over-year basis watch for prices climb 8.0% in October, easing back from September’s hotter-than-expected reading of 8.2%. That would be the lowest reading since February, and the fourth month in a row of slowing annual growth after June’s 9.1% surge, which marked the highest inflation rate in almost 41 years."The monthly CPI is a regular reminder that inflation is outstripping what is otherwise pretty stout growth in household income, further validating the sour financial mood of American consumers," said Greg McBride, CFA, Chief Financial Analyst for Bankrate.
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