U.S. CPI rises 0.3% in September, hits 5-month high

U.S. consumer prices recorded their biggest gain in five months in September as the cost of gasoline and rents surged, pointing to a steady pickup of inflation that could keep the Federal Reserve on track to raise interest rates in December. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after rising 0.2 percent in August. In the 12 months through September, the CPI accelerated 1.5 percent, the biggest year-on-year increase since October 2014. The CPI rose 1.1 percent in the year to August…

UK inflation rises to 22-month high in September

Inflation rose to 1% in September, the highest level in almost two years, as the collapse in the pound since the vote to leave the EU began to push up the cost of imports. Weaker sterling has sent the cost of petrol higher, along with other items mainly brought in from abroad, such as clothing and footwear.
The Office for National Statistics played down the impact of the falling pound on the annual inflation rate, saying there was no “explicit evidence” that it was having a significant impact on consumer prices…

U.S. industrial output edges up 0.1% in September

WASHINGTON—U.S. industrial output improved slightly in September, suggesting struggling manufacturers and oil producers may be finding their footing in the second half of the year. Industrial production—a measure of output at factories, mines and utilities—rose a seasonally adjusted 0.1% in September from August, the Federal Reserve said Monday…

Oil prices drop on oversupply concerns but expectations of OPEC deal limited losses

Oil prices fell on Monday, weighed by oversupply concerns, while expectations of an OPEC intervention next month to curb production limited losses. International benchmark Brent crude oil futures LCOc1 fell 57 cents to $51.38 per barrel at 1348 GMT, after hitting a session high of $52.29 a barrel.
U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.65 per barrel, down 70 cents from their last settlement, after hitting a session high of $50.58…

Economic news this week: UK and U.S. CPI, China GDP, ECB rate decision

The week’s economic calendar provides insight into how the world’s two largest economies are faring. It kicks off with a gauge of U.S. industrial activity, followed by a round of economic data out of China. From Europe comes a report on consumer confidence and a policy decision from the European Central Bank.

U.S. retail sales rise to 0.6% in September amid surge in auto purchases, discretionary spending

U.S. retail sales rebounded in September amid a surge in motor vehicle purchases and rise in discretionary spending, pointing to solid demand that reinforces expectations of an interest rate increase from the Federal Reserve in December. Other data on Friday suggested a pickup in inflation, with producer prices rising broadly last month to record their biggest year-on-year increase since December 2014…

U.S. import prices edge up 0.1% vs. 0.2% expectation

WASHINGTON—Prices for foreign goods shipped to the U.S. rose slightly in September, a sign that a modest rebound in oil markets is slowly lifting inflation.
The import-price index, measuring the cost of goods ranging from Brazilian coffee beans to Japanese cars, grew 0.1% from a month earlier, the Labor Department said Thursday. Economists surveyed by The Wall Street Journal expected prices to rise 0.2%…

Global stocks, dollar bounce back on rise in China inflation, U.S. data

Global stocks and the dollar rebounded on Friday from losses a day earlier, buoyed by a surprising rise in Chinese producer prices and strong U.S. economic data that bolstered expectations the Federal Reserve would raise interest rates in December. The dollar was on track for its largest weekly increase in more than three months, with rebounding U.S. retail sales and a broad rise in producer prices last month indicating the economy regained momentum in the third quarter after a lackluster first-half…

Fed hawks fear recession in rate hike delay, Fed minutes show

Federal Reserve officials who favor hiking interest rates worry that waiting too long could send the country into recession. At an unusually divisive Federal Open Market Committee meeting in September, hawkish members said history holds a worrisome lesson for a central bank that has kept a historically accommodative monetary policy in place for the past eight years…

OPEC points to larger surplus in 2017 despite deal to cut output

OPEC reported a increase in its oil production in September to the highest in at least eight years and raised its forecast for 2017 non-OPEC supply growth, pointing to a larger surplus next year despite the group’s deal to cut output. The Organization of the Petroleum Exporting Countries pumped 33.39 million barrels per day (bpd) last month, according to figures OPEC collects from secondary sources, up 220,000 bpd from August, OPEC said in a monthly report on Wednesday…

Fed to hike rates relatively soon amid growing concerns over bank’s credibility

Federal Reserve leaders appear poised to raise interest rates amidst growing concern about the bank’s credibility. “Some participants believed that it would be appropriate to raise the target range for the federal funds rate relatively soon,” if the economy stays on track, according to minutes released Wednesday from the Fed’s meeting in late September…

December rate hike in question after September NFP report came in below market expectations

September’s jobs report came in below market expectations — but was it still enough to increase chances for a December interest rate hike? Traders pushed the probability of a Fed move during its last meeting of the year from 63.9 percent before Friday’s nonfarm payrolls release to 70.2 percent afterward, according to the CME’s fed funds futures tracker. That move came even though the 156,000 increase was below market expectations for 176,000…

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