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US inflation, jobs data bolster Fed December rate-hike chances

Fed chief says a rate rise would be appropriate if economic data kept pointing to improving labour market and rising inflation

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The firming inflation backdrop and labour market that is approaching full employment are likely to encourage the US central bank to raise borrowing costs at its Dec 13-14 policy meeting.

Washington

US CONSUMER prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pick-up in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December.

Prospects for a rate hike next

sentifi.com

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