U.S. Consumer Inflation Eased To 7.7% Over Past 12 Months

The video discusses the recent inflation report, highlighting a CPI of 7.7%, which is lower than expected. Core CPI also decreased, indicating a potential peak in inflation. Major contributors to inflation include shelter, gas, and food. Despite signs of improvement, the Federal Reserve is expected to continue interest rate hikes, with a likely increase in December. The report suggests a cautious optimism for future inflation trends.

What is the expected outcome regarding interest rate hikes following this report?

How does the report indicate the Federal Reserve might respond to the inflation data?