October 12, 2023
United States:
US Consumer Prices Rise at Brisk Pace for Second Straight Month
US consumer prices advanced at a brisk pace for a second month, reinforcing the Federal Reserve’s intent to keep interest rates high and bring down inflation.
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% in September, Bureau of Labor Statistics data showed Thursday. Economists favor the core gauge as a better indicator of underlying inflation than the overall CPI. That measure climbed 0.4%, boosted by energy costs.
Europe:
ECB Officials Saw Rate Hike as ‘Close Call,’ Account Shows
European Central Bank officials saw last month’s decision to raise interest rates by another 25 basis points as a “close call,” according to an account of their last policy meeting.
Governing Council members assessed that the risks of tightening too much and the risks of tightening too little had become “more balanced,” the account of the Sept. 13-14 gathering published Thursday showed.
Asia:
India Inflation Eases Within Target Band as Food Prices Slow
India’s inflation slowed in September, returning to within the Reserve Bank of India’s target band, as food prices continued to ease.
The consumer price index rose 5.02% from a year earlier, statistics ministry data showed Thursday. That was lower than 6.83% in August and compared with a median forecast of 5.4% in a Bloomberg survey of economists.
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