Hot Inflation Figures Could Spark 75-Point Interest Hike ...Middle East

OILPRICE - Economy
Hot Inflation Figures Could Spark 75-Point Interest Hike
source : OILPRICE ( Middle East ) () 34
US inflation climbed higher than expected on a monthly basis in September in a sign the Federal Reserve’s series of steep rate hikes are failing to tame the toughest price pressures. Inflation hit 0.4 percent last month, above Wall Street’s expectations of a 0.2 percent increase and higher than August’s print, figures from the US Labour Department showed. On an annual basis, prices climbed 8.2 percent, down slightly from August. The hotter-than-forecast figures indicate Fed chair Jerome Powell and co’s three successive 75…

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