US Core Inflation Warmest In Months As Tariffs Loom

Nominal spending was sturdy, inflation-adjusted spending less so, and core inflation was warm last month, this week's marquee US macro release showed. Underlying price growth was 0.3% in October, 0.273% unrounded, the BEA said, ahead of the holiday. That was in line with forecasts, but it was the highest MoM reading since March and more than double the post-GFC, pre-pandemic, average. On a YoY basis, core price growth on the Fed's preferred measure was 2.8%, the quickest since April. The he