The inflation reading appears to clear the way for the US Federal Reserve, chaired by Jerome Powell, to cut interest rates next week. Photograph: Caroline Gutman/The New York Times
US inflation rose less than expected to 3 per cent in September, paving the way for the Federal Reserve to continue cutting interest rates when it meets next week.
Friday’s annual consumer price index figure from the Bureau of Labor Statistics was up from 2.9 per cent in August but below the expectations of 3.1 per cent among economists polled by Bloomberg.
The US dollar and Treasury yields f
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