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US consumer prices rose more than the 0.6% Reuters economists had forecast, led by a 6.1% jump in gasoline prices. Food prices also contributed to the broad-based increase.
Brent crude had gained strongly over the period.
Higher energy and food costs feed into farm input and feed costs and raise pressure on the Fed to tighten policy. The inflation data also supports the case for a stronger dollar, which can weigh on dollar-priced commodities.
reuters.comLucia MutikaniNov 10, 2021After 139 past report events, US Dollar (Broad) moved a median -0.1% over 5 sessions (47% higher; middle half -0.5% to +0.4%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
