Since the Federal Reserve announced its September rate decision, consumer price growth in the US has accelerated across a wide range of goods and services. This signifies that underlying inflationary pressures are growing stronger.
Fed officials will announce another rate hike in December, with analysts expecting the central bank to also increase interest rates further.
Here’s what to expect for the week ahead:
US Midterm Elections (November 8)
The US will hold its midterm elections on November 8.
Voters will go to the polls to decide who will hold key offices in their respective states and cities. The result of this election is expected to have a major impact on the US economy, and analysts are keeping close tabs on the situation.
US Consumer Price Index (November 10)
US CPI rose by 0.4% month-on-month in September, the highest reading in three months.
Analysts expect consumer prices to increase by a further 0.7%.
UK Gross Domestic Product (November 11)
UK economic growth slowed by 0.3% month-on-month in August after rising by 0.1% in July.
Analysts expect GDP growth to be 0.1% for September.
US Prelim UoM Consumer Sentiment (November 11)
The University of Michigan’s latest consumer sentiment survey in the US showed a reading of 59.9.
Economists forecast the index to come in at 60 for this month.
