美国10月CPI数据点评：美联储或继续小幅降息

Inflation Data - The October CPI increased by 2.6% year-on-year, up from 2.4% in September, while month-on-month it rose by 0.2%, consistent with the previous month[2][4] - Core CPI remained stable at 3.3% year-on-year and increased by 0.3% month-on-month, unchanged from the prior month[2][4] Service and Goods Inflation - Core service inflation showed resilience, with a year-on-year increase of 4.8%, despite a slight month-on-month decrease to 0.3%[4][8] - Used car inflation rose significantly month-on-month by 2.7%, while year-on-year negative growth narrowed to -3.4%[4][26] Federal Reserve Outlook - Market expectations for a Federal Reserve rate cut in December remain around 70% following the inflation data release[2][4] - The upcoming November employment data will be crucial for the Fed to assess the impact of temporary disruptions on the labor market[34] Market Reactions - Following the inflation data, U.S. Treasury yields generally declined, with a mixed performance in major stock indices: Nasdaq fell by 0.26%, while S&P 500 and Dow Jones rose by 0.02% and 0.11%, respectively[35] - The dollar index weakened slightly before closing higher, while gold prices decreased[35]