US Consumer Prices Rise 0.4%, Exceed Forecasts

U.S. consumer prices rose 0.4% in October, slowing from September’s 0.6% increase but exceeding economists’ 0.3% forecast. Core CPI, excluding food and energy, rose 0.3%, above expectations and matching September. The Bureau of Labor Statistics did not report a year-over-year figure because last year’s government shutdown disrupted the data needed for comparison. Food, energy and shelter costs increased, while inflation continued to pressure household budgets; one report said prices were rising faster than workers’ pay. The hotter-than-expected release heightened attention on the Federal Reserve’s next rate decision and coincided with higher Treasury yields and declines in stock futures and bitcoin.