Five Things You Need to Know to Start Your Day
Inflation is sticky. Yields jump. War talk. Here’s what you need to know today.
US consumer prices advanced at a brisk pace for a second month, potentially reinforcing the Fed’s intent to keep interest rates high to fight inflation. The overall consumer price index climbed 0.4%, boosted by energy costs. However, core CPI, which excludes food and energy costs, rose 0.3% in September, in line with expectations. Economists favor the core gauge as a better indicator of underlying inflation than the overall CPI. Shelter prices, which make up about a third of the overall CPI index, accounted for over half of the increase in the monthly advance and were boosted by the biggest jump in hotel stays in two years.