October consumer prices rose 0.4%, the third straight monthly gain of at least 0.4%, according to data reported by Reuters. Economists polled by the outlet had expected 0.3%. Core inflation, which excludes food and energy, rose 0.3% for the third month in a row against a forecast of 0.2%. Shelter accounted for more than 30% of the monthly increase.
Hot Inflation Reading Hardens Rate Hike Bets
The report changed the rate debate almost immediately. Fed Governor Christopher Waller said in a...