Core inflation for the US in October rose 0.2% month-on-month, coming in lower than estimates of 0.2%. Headline inflation, including food and energy prices, were unchanged, undercutting estimates of a 0.1% price increase.
Year-on-year, headline inflation came in 0.1% lower than expectations at 3.2%, while core increased 4% year-on-year, compared with the estimate of 4.1%. The lower-than-expected prices meant the US Federal Reserve is likely to take a December interest rate increase off the table.
After the news broke the S&P 500 rose 0.9%.
This is a developing story.
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