Inflation reading for CPI increased, Home Builders remain positive in October, Final Presidential debate Wednesday evening
October 18, 2016
Consumer prices edged higher in September led by higher costs for housing and gas. The inflation reading Consumer Price Index (CPI) increased 0.3% in September, in line with estimates and above the 0.2% recorded in August. The Core CPI, which strips out food and energy, rose 0.1%, below the 0.2% expected. Year-over-year, headline CPI was up 1.5%, above the previous 1.1% in August, while Core edged lower to 2.2% from 2.3%. The U.S. Federal Reserve will be closely monitoring incoming inflation data in its decision on interest rate policy ahead of the December Federal Open Market Committee meeting.
Home builders remained positive in October, though below the reading in September. The National Association of Home Builders Housing Market Index fell two points to 63, above the 59 that was expected. The 63 was the second highest reading in 2016, where September saw the highest at 65. A reading above 50 is considered positive sentiment. “Even with this month’s drop, builder confidence stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill.
The final presidential debate will take place Wednesday evening October 19 at 9:00 p.m. ET between Hillary Clinton (D) and Donald Trump (R). The two previous debates have been a slug fest of sorts with each candidate firing slings and arrows against each other’s character. The American people will hope that this debate will center around more important subjects, such as what will the incoming president do to lead the nation into greater prosperity, views on foreign policy, health care and the like. This final debate will be the last for the candidates to make an impression on voters ahead of the November 8 election.