New York, Frankfurt Inflation in the US fell significantly in October. The inflation rate was 7.7 percent, as announced by the US Department of Labor on Thursday in Washington. That’s down from September, when it was 8.2 percent. Economists had expected a drop to 7.9 percent. The increase in prices compared to the previous month was also lower than expected at 0.4 percent. A value of 0.6 percent had been expected here.
The numbers were eagerly awaited on the markets because they are seen as an indication of the future course of the US Federal Reserve. Last week, it raised the key interest rate in the USA by three-quarters of a percentage point to a range of 3.75 to 4.00 percent.
Fed Chair Jerome Powell promised further hikes. However, he signaled that these could be somewhat lower than before. As a result, yields on American government bonds fell somewhat, which was positively received by the markets.
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