Read the highlights of this week’s commentary from Helios:
- Inflation rose modestly in October, with the consumer price index (CPI) increasing by 0.2% from the previous month and 2.6% year-over-year, marking the first rise in the annual inflation rate since March. Housing costs were the main contributor to October’s inflation, making up over half of the monthly increase.
- Retail sales rose 0.4% in October, building on an upwardly revised 0.8% increase in September, suggesting consumer spending remains resilient. Although the report showed mixed results, the upward revision indicates consumers are entering the holiday season on strong footing, supporting expectations for solid spending in the coming months.
- The National Federation of Independent Business (NFIB) small-business optimism index rose in October as some owners anticipated a Trump election victory. Inflation remained the top challenge for small businesses, followed by labor quality and taxes. Optimism is expected to surge in November as the incoming administration aims to extend the 2017 Tax Cuts and Jobs Act.
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