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Economics

US Inflation to Pose Fresh Test for Powell’s Fed: Eco Week Ahead

  • US consumer prices seen rising 7.9% in October from year ago
  • GDP report for UK likely to show contraction in third quarter
A customer places items on a conveyor belt at a checkout counter at a grocery store in Salt Lake City, Utah.

A customer places items on a conveyor belt at a checkout counter at a grocery store in Salt Lake City, Utah.

Photographer: George Frey/Bloomberg

The Federal Reserve gets fresh insight into its inflation challenge this week amid expectations US prices continued to rise at a stubbornly fast pace in the past month. 

The consumer price index report for October is scheduled for Thursday, and is set to have climbed 7.9% from a year ago, only a slight slowing from 8.2% recorded in September, according to the median forecast of economists surveyed by Bloomberg News.