Inflation turned negative in most places from March until May, as Oil prices were declining and the western world was on lock-down. But CPI (consumer price index) jumped during summer, as the global economy rebounded and US inflation grew by 0.6% on average. Although, it is cooling of again, falling negative in Europe since September. In the US, CPI cooled off and both headline and core CPI fell flat last month, while YoY CPI slowed to 1.2%.

US October CPI Report

• October CPI YoY +1.2% vs +1.3% expected
• September CPI YoY was +1.4%
• Core CPI YoY excluding food and energy +1.6% vs +1.7% expected
• Prior core CPI excluding food and energy +1.7%
• CPI MoM 0.0% vs +0.1% exp
• CPI MoM excluding food and energy 0.0% vs +0.2% expected
• Average weekly earnings +4.4% vs +4.4% prior
• Average hourly earnings +3.2% +3.2% prior