US: Inflation figures increase hopes for interest rate cut

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US: Inflation figures increase hopes for interest rate cut
Photo: Nam Y Huh/AP/TT

So-called core inflation in the US decreased slightly according to the latest statistics. This is considered to increase the likelihood that the Federal Reserve will cut interest rates next week.

PCE inflation, which excludes energy and food price increases, stood at 2.8 percent in September, year-on-year. Forecasts were for 2.9 percent.

The figures were delayed due to the prolonged government shutdown in the US.

Leading indexes on Wall Street reacted with slight increases.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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