The inflation rate in October is written up to 2.6 percent according to new statistics. In September, the price increase rate was 2.4 percent on an annual basis. Above all, it is now housing costs that stand out, but also the price of used cars is rising, while clothing prices have gone in the opposite direction according to the statistics.
This is the first time in seven months that the figures show an increase on an annual basis, but it was simultaneously exactly the price increase that economists had forecast according to Bloomberg's compilation.
Rises in advance
The concern beforehand was instead that the price increase rate could become even more intense. Today's figures therefore get the New York stock exchange to rise in advance after yesterday became the first trading day with a decline since the presidential election was decided.
The market's expectations of an interest rate cut from the American central bank Federal Reserve in December have also grown. Before the inflation statistics, it was 50/50, but shortly thereafter, they have now increased to 60 percent probability regarding an interest rate cut in December.
Promises tax relief
Donald Trump has simultaneously as newly elected president promised large tax relief combined with significantly increased tariffs, something that in theory could contribute to inflation pressure taking off again in the USA.
Trump has, however, simultaneously claimed that he will combat the inflation trend by getting energy prices down, and above all oil prices, by increasing the USA's oil and gas production.
Facts: Inflation in the USA
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Inflation in the USA rose to 2.6 percent in October, according to new official statistics. In September, the price increase rate was 2.4 percent on an annual basis.
Economists had on average counted on an inflation rate in October of 2.6 percent.
The underlying inflation, adjusted for food and energy prices, remained at 3.3 percent, which was also in line with expectations.
The wage increase rate, calculated as hourly wages, remained at 1.4 percent, calculated on an annual basis.
