Wells Fargo: U.S. inflation is expected to remain above the Federal Reserve's target

ChainCatcher news, according to Jinshi reports, Wells Fargo's Sarah House and Aubrey Woessner wrote that inflation in the United States may still be above the Federal Reserve's 2% target. The consumer price index for October, to be released next week, "may show that progress in eliminating the last bit of inflation remains frustratingly slow."

They predict that the overall CPI for October will increase by 0.2%, remaining the same as the increase in September, which will raise the annual rate from 2.4% to 2.5%. Core CPI is expected to rise by 0.3% for the third consecutive month, keeping the annual rate at 3.3%. House and Woessner added that policies proposed by Trump could put pressure on rising prices and extend the time for inflation to return to the Federal Reserve's target.