BCREA ECONOMICS NOW: US Inflation - November 16, 2011
US consumer inflation slowed in October to an annual rate of 3.5 per cent, a 0.4 point drop from September. Core inflation, which excludes energy and food prices, rose 2.1 per cent in October. On its face, falling headline inflation and tempered inflation expectations should help quiet inflation hawks at the Federal Reserve and should provide more support for further monetary easing. However, the current political environment has made the Fed reticent to make bold moves and so barring a further escalation of the Euro-crisis, today’s inflation report is unlikely to alter the stance of US monetary policy.
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