High US inflation report seals Federal Reserve rate increase
· Cairo time
A higher-than-expected inflation report has put new pressure on the Federal Reserve to raise interest rates at its December meeting, and a top policymaker said he expects the Iran war to have a lingering effect on energy costs.US government data on Tuesday showed Consumer Price Index inflation accelerated at a 0.4 per cent monthly pace in October, slower than its 0.6 pace in September but still above estimates.Core inflation, which excludes the…
