U.S. Consumer Inflation Expected to Accelerate in October

Forex - Attention in global markets is focused on the U.S. today, where the consumer price index for October will be announced. Economists predict a strong increase in consumer prices for October compared to September. The headline inflation, which was 2.4% year-on-year in September, is expected to rise to 2.6%, with a 0.2 increase in prices compared to the previous month. Core prices are anticipated to rise by 0.3% on a monthly basis, while remaining at 3.3% on an annual basis. In a survey conducted by the Wall Street Journal among leading banks and investment firms, no predictions higher than 2.6% were made for headline inflation. However, Nomura and UBS forecast that the headline inflation could increase by 3.4% year-on-year.