© Reuters. U.S. CPI increases 0.1% in October , in line with forecasts© Reuters. U.S. CPI increases 0.1% in October , in line with forecasts

Investing.com – Consumer price inflation (CPI) rose as expected in October, with the core data ticking up and reinforcing market bets that the Federal Reserve (Fed) will hike rates by the end of the year, official data showed on Wednesday.

In a report, the U.S. Commerce Department said that rose 0.1% in October from a month earlier, in line with forecasts and compared to a 0.5% gain in the previous month.

Year-over-year, increased 2.0% last month, also matching expectations and easing from the 2.2% advance seen in September.

, increased by a seasonally adjusted 0.2% last month, in line with consensus and compared to September’s 0.1% advance.

Furthermore, increased as expected at an annualized rate of 1.8% in October, beating forecasts that it would repeat the prior month’s reading of a 1.7% rise.

Core prices are viewed by the Federal Reserve (Fed) as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.

After the report, which was published simultaneously with October and the for November, was trading at 1.1853 from around 1.1838 ahead of the release of the data, was at 1.3177, compared to 1.3171 previously, while was at 112.55 from 112.69 earlier.

The , which tracks the greenback against a basket of six major rivals, was at 93.34, compared to 93.46 ahead of the report.

Meanwhile, U.S. stock futures pointed to a lower open. The fell 114 points, or 0.49%, the lost 12 points, or 0.46%, while the traded down 23 points, or 0.37%.

Elsewhere, in the commodities market, traded at $1,288.22 a troy ounce, compared to $1,287.08 ahead of the data, while traded at $55.05, compared to $55.09 prior to the release.

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