US Inflation eases in October. What are its repercussions?
The Bureau of Labor Statistics released CPI data for October,
US Inflation numbers have reduced to 7.7% in October which was 8.2% in September and 8.3% in August.
How would low inflation numbers impact us?
🌟 Stock and crypto surge: We might soon see a portfolio shift as investors would be looking to jump back to their favorite asset class equity. Many investors who parked their money in less risky assets like bonds would to looking to invest in equities and crypto once again.
🌟 Dollar Fall: US dollar index has dipped by 1.96% already and we have seen the rupee’s biggest climb in a week this year. Euro and Japanese yen seem to follow the same trend as they look to tumble the dollar.
🌟 Slower rate hikes: In the past few months we have seen Federal Reserve make aggressive hikes as the inflation numbers were not under control, now that things are falling into place, the Federal reserve might look to slow down on the interest rate hikes.
🌟 Crude price increase: The US inflation figures were better than predicted, which caused an increase in crude oil prices. US crude rose by over 1% and traded around $86.8 per barrel late Thursday.
