US inflation runs hotter than expected at 0.4% in October

US inflation came in hotter than expected at 0.4% in October, giving Wall Street another reason to worry about the Federal Reserve raising interest rates again. The latest Consumer Price Index (CPI) report showed that Americans paid more for groceries, housing, electricity, insurance, and healthcare. September was worse, with prices climbing 0.6%, but the slowdown hasn’t exactly made inflation disappear. It makes things especially awkward for the Federal Reserve. At the October meeting, they voted 10 to 2 to keep interest rates in the 3.75% to 4% range, deciding to get some more data on the economy before deciding again. An interest rate rise is not assured, but rising prices could complicate things.

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