Inflation is starting to get hot.
Latest CPI data is up 0.3%. Core was 0.2%, above the 0.1% that analysts were expecting.
Here we go?!
WASHINGTON (AP) — The government says consumer prices edged up slightly faster than expected in October, driven higher by another increase in energy prices and the biggest increase in new car prices in 28 years.
Still, prices are lower than they were a year ago and inflation is expected to remain subdued as the economy struggles to emerge from a deep recession.
The labour Department said Wednesday that consumer prices rose 0.3 per cent in October, a bit more than the 0.2 per cent economists had expected. Core inflation, which excludes energy and food, rose 0.2 per cent, compared to analysts’ expectation for a 0.1 per cent rise in core prices.