The Fed looks likely to raise rates: Yesterday, the Bureau of Labor Statistics released new data showing that consumer prices rose again last month (0.4 percent in October after a 0.6 rise the month prior). Per The New York Times, "overall prices were around 4 percent higher compared with the same time last year, up from 3.7 percent in September. Over the same period, core prices rose about 2.8 percent." It's been years of this pattern, over and over again; it adds up over time.
Food was a huge driver of the price increases last month. "Energy prices overall were up 0.7 percent for the month after a 5.2 percent jump in September," adds the Times, and "gasoline prices rose just 1 percent, significantly slower than the 9.1 percent increase seen in the previous period. Electricity prices rose nearly 1 percent." Diesel prices are majorly up right now as well.
