Headline Roundup • November 13th, 2024
Annual Inflation Rose to 2.6% in October
Summary from the AllSides News Team
The Consumer Price Index rose 2.6% in the 12 months since last October and 0.2% from September. Annual core inflation, which strips out food and energy costs, was 3.3% annually, a 0.3% rise month-to-month.
For Context: The month-to-month CPI and core inflation rise were in line with expectations. The numbers come a month after the Fed began cutting rates—a half of a percentage point rate cut in September and a quarter of a point earlier in November.
How the Media Covered It: CNBC (Center bias) led with "Progress in the fight to tame pandemic-era inflation appears to have stalled out," adding that President-elect Trump's proposed tariffs would exacerbate inflation, according to economists. CBS News (Lean Left) also mentioned that Trump's policies could boost inflation by as much as one point. The Washington Examiner (Lean Right) said the data was unwelcome news for Trump: "It shows the Federal Reserve will have to continue working to bring down prices and that inflation could be a lingering problem in the new administration."
Featured Coverage of this Story
U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker labor market.
That matched forecasts from economists polled by FactSet that the Consumer Price Index rose 2.6% in October. The CPI rose 2.4% in September, when the Fed ushered in a jumbo rate cut of 0.5 percentage points, followed by a second rate cut this month.
Justin Sullivan | Getty Images
Progress in the fight to tame pandemic-era inflation appears to have stalled out in October, despite lower prices at the gasoline pump and a moderation in other consumer staples like groceries.
Meanwhile, economists think policies like import tariffs floated by President-elect Donald Trump would likely — if enacted — exacerbate the inflation rate, which hasn’t yet declined to policymakers’ long-term target.
The consumer price index, a key inflation gauge, was up 2.6% in October versus a year ago — an increase from 2.4% in September, the Bureau of Labor Statistics reported Wednesday. The reading was in...
Fox Business
Inflation ticked slightly higher in October as prices remained stubbornly high for consumers, giving Federal Reserve policymakers more data to consider ahead of their meeting next month. The Labor Department on Wednesday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% in October from the prior month and was up 2.6% from a year ago. Economists polled by LSEG predicted that inflation would come in at 0.2% in October while ticking up to 2.6%...
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