close video Fed has its work cut out in inflation fight, analyst warns

PGIM co-chief investment officer Greg Peters weighs what the future of the economy will look like following the Feds sixth rate hike.

Inflation continued to run near a multi-decade high in October as persistent prices squeezed millions of U.S. households and small businesses.

The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in October from the previous month. Prices climbed 7.7% on an annual basis. 

Those figures were both lower than the 8% headline figure and 0.5% monthly increase forecast by Refinitiv economists.

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