June 21, 2024

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U.S. consumer inflation accelerated in October and fell above forecasts by Investing.com

© Reuters.

By Leandro Mansoni

Investing.com – US economic inflation rose 0.9% in October, measuring 0.6% by consensus and previous reading above 0.4% (CPI), according to data released on Wednesday (10).

On an annual basis, the index gained 6.2%, 5.8% above market expectations and 5.4% for the September reading.

The monthly and annual basis was also higher than the consensus, with gains of 0.6% and 4.6% against the consensus of 0.4% and 4.3%, respectively.

Consumer inflation came a day after the maker released inflation data. (IPP) rose 0.6% in October, consensus that its previous reading had accelerated from 0.5%.

On an annual basis, the indicator is accumulating 8.6% growth, 8.7% below market expectations and 8.6% in line with the September reading.

Against the consensus of 0.5% and 6.8%, it rose 0.4% and 6.8% on a monthly and annual basis, respectively.

Unemployment insurance

Last week’s release in the US was brought to this Wednesday because tomorrow is a US holiday. According to Labor Department data, the data is slightly above market economists’ forecast and slightly below the previous week’s revised number. 267,000 benefits were requested, up from 271,000 last week. Market forecast 265,000 orders.

The figure was over 2.095 million, with 2.160 million requested benefits, surpassing last week’s revised number of 2.101 million.

Market reaction

US inflation opened slightly higher after the release but returned to a slightly lower level. The main Brazilian stock index fell 0.14% to 105,383 points at 10:37 am, while it began to fall 0.36% from R $ 5.45 to 5.47.

In the United States, Wall Street futures indices suffered deep losses. , And fell 0.3%, 0.45% and 0.76%, respectively.

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U.S. inflation data above market forecasts lead to a revaluation of risk premiums as it pushes the Federal Reserve (Fed) to accelerate the tightening of monetary policy, which in turn leads to a reduction in the risk appetite. Emerging economies such as Brazil are engaging themselves in risky assets such as stocks and assets.