US Inflation Stays Firm for Third Month With 0.3% Core CPI Gain
- Consumer price index boosted by used cars, shelter in October
- Traders still see Fed cutting rates at December policy meeting
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US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to bring price pressures fully under control.
The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month, Bureau of Labor Statistics figures showed Wednesday. Over the last three months it rose at a 3.6% annualized rate, marking the fastest pace since April, according to Bloomberg calculations.