US Inflation to Cool Only Slightly, Keeping Big Fed Hike in Play
- Consumer prices forecast to show continued strength in October
- Upside surprise could raise risk of higher peak interest rates
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US inflation probably moderated just slightly in October data due Thursday, and yet another above-forecast reading may dash expectations for the Federal Reserve to downshift from steep interest-rate hikes.
Economists project the consumer price index and the core measure that excludes food and energy both cooled on an annual basis, but to rates still consistent with persistent and elevated inflation. The overall CPI is seen rising from a month earlier by the most since June.