Analysts believe gas prices fell while used-car prices spiked.
by Sarah Hansen
Morningstar Advisor
:quality(80)/cloudfront-us-east-1.images.arcpublishing.com/morningstar/NVLVUMVA5RDIBN7CXHRQNM3LVE.png)
Forecasts for the October Consumer Price Index report show that inflation likely remained steady on a monthly basis in October, reflecting a pause in the good news on price pressures in the economy.
Analysts say falling gasoline prices during the month continued to pull down inflation overall, but rising prices in other areas offset some of that progress.
Investors are watching the data with renewed focus in the aftermath of last week’s presidential election, given the anticipated Republican policy proposals that economists think could exacerbate inflationary pressures. In recent weeks, bond traders have pushed bond yields higher, partly due to concerns about the longer-term inflation outlook.