15th December 2023
AXA IM: Take Two: US inflation falls; Japan’s economy contracts
US annual inflation decreased for the first time in three months in October, to 3.2% from 3.7% in September, partly because of declining fuel prices. Meanwhile core inflation, which excludes more volatile energy and food prices, fell to 4.0% in October from 4.1%, its lowest rate since September 2021. The data boosted hopes that the Federal Reserve (Fed) will not raise interest rates further. Elsewhere, UK annual inflation fell more than expected to 4.6% in October, from 6.7% in September, the lowest rate in two years.

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