US Consumer Price Inflation Cools, Stocks Surge

📆 11/15/2023 10:42 AM
📰 cnnbrk

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Economy News

US,Consumer Price Inflation,Prices

US consumer price inflation has cooled more than expected, providing some relief to Americans who have been dealing with high prices. As a result, US stocks surged, with the Dow up by over 500 points, the S&P 500 gaining 2%, and the Nasdaq Composite adding 2.3%.

Prices continue to rise at a rate not seen in two years, with the Consumer Price Index rising 3.2% for the 12 months ending in October. However, this is down from 3.7% in September and is the lowest annual rate since March 2021. US consumer price inflation has cooled more than expected, providing some relief to Americans who have been dealing with high prices. As a result, US stocks surged, with the Dow up by over 500 points, the S&P 500 gaining 2%, and the Nasdaq Composite adding 2.3%.

On a monthly basis, prices remained unchanged for the first time since July 2022, after a 0.4% increase the previous month. Economists had anticipated a 0.1% monthly increase and a 3.3% year-over-year gain

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US Consumer Price Inflation Cools, Stocks RiseUS consumer price inflation cools more than expected, sending US stocks sharply higher. The Consumer Price Index rose 3.2% for the 12 months ending in October, the lowest annual rate since March 2021.
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