Last Updated on November 11, 2022 by Bitfinsider
Inflation in the United States, as measured by the Consumer Price Index (CPI), declined from 8% in September to 7.7% in October, according to a report released by the Bureau of Labor Statistics on Thursday. This reading was below the 8% market forecast.
Annually, the Core CPI, which excludes volatile food and energy expenses, declined from 6.6% to 6.3%, contrary to analysts’ expectations of 6.5%.
The CPI and Core CPI for the month were 0.4% and 0.3%, respectively, which fell short of the projections given by experts in both cases.
After the CPI figure was released, Treasury yields dropped. The yield on the 10-year Treasury note fell by more than 18 basis points to 3.946%, below the critical 4% threshold. The yield on the 2-year Treasury note fell by more than 23 basis points to 4.395%.
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