Inflation Data Better Than Expected, Dollar Dives November 10, 2022
The monthly retail level inflation report was much better than expected. Retail level prices peaked at +9.1% vs. last year in June. By September that had been narrowed slightly to +8.2%. Today's report, covering October, showed a good decline to +7.7%. The trade expected 8.0%. Markets have changed their view of future Federal Reserve interest rate rises. They now expect a 0.50% increase in rates for the December 13 and 14 meetings. The US dollar index fell to its lowest level since September 13.
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