Here's the latest
CPI
data from the US Bureau of Labor Statistics.
CONSUMER PRICE INDEX: OCTOBER 2006
The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.5 percent in October, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The October level of 201.8 (1982-84=100) was 1.3 percent higher than in October 2005.
This
article
suggests that the Federal Reserve will not be cutting interest rates as bond price remain unchanged. The
minutes
from the October 24-25th Federal Reserve meeting showed that Bernanke and company still had a focus on inflation.
Two days ago the Department of Labor released the latest
Primary Producer Index
numbers, which actually showed negative growth. Those numbers had market followers, myself included, thinking that interest rate cuts were definitely on the way.
The minutes from the Federal Reserve meeting showed that Reserve was still convinced that inflation remained a threat.
One factor that may yet change views is the continuing slide in oil prices with oil prices on
NYMEX
hitting US$56.00.