Industrial Bank: US inflation is expected to remain above the Fed's target

On November 7, Jins data, Sarah House and Aubrey Woessner of the Bank of Wealthy Nations pointed out that inflation in the United States may still be higher than the Federal Reserve’s 2% target. The October consumer price index, to be released next week, “may show that progress in eliminating the last bit of inflation remains frustratingly slow.” They predict that the overall CPI in October will rise by 0.2%, unchanged from September, pushing the annual rate from a rise of 2.4% to 2.5%. Core CPI is expected to rise by 0.3% for the third consecutive month, maintaining an annual rate of 3.3%. House and Woessner added that Trump’s proposed policies may put pressure on prices and prolong the time it takes for inflation to return to the Fed’s target.