US consumer prices rose mostly as expected, providing the Federal Reserve with the data to justify lowering interest rates another 25 basis points when policymakers meet in December.
The core consumer price index for October came in at 0.3 per cent month on month for the third consecutive time, while the 12-month rate was 3.3 per cent. Headline CPI rose by 0.2 per cent on the month and by 2.6 per cent on an annual basis.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com