Drop: US inflation declined to 2.4 per cent in September, down from 2.5 per cent in AugustUS inflation is at a three-and-a-half year low in the latest sign that the cost-of-living crisis that has plagued the world is being brought under control. Inflation fell to 2.4 per cent in September, down from 2.5 per cent in August, cementing expectations that the US Federal Reserve will not repeat September's half-percentage point interest rate cut in November. US jobs figures last week, and comments from Fed chief Jerome Powell that it was not 'in a hurry' to cut rates, had already dampened hopes of another jumbo move. Lindsay James, investment strategist at Quilter Investors, said the fall in inflation 'should be enough to crack on with a quarter-point rate cut'. In the eurozone, officials are signalling a likely third rate cut of the year while the Bank of England is cautious, with chief economist Huw Pill warning against cuts 'too far or too fast'.

Source: Daily Mail October 11, 2024 08:59 UTC