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Benzinga

Business

Wayne Duggan

Thursday's CPI Inflation Reading Is Critical: Here's What Investors Need To Know

Inflation Nicholas Colas NYSE United States Cleveland Fed ETF Labor Department

The SPDR S&P 500 ETF Trust (NYSE:SPY) traded lower by 0.7% on Wednesday morning ahead of a critical consumer price index (CPI) inflation reading on Thursday morning.

Economists are expecting the U.S. Labor Department to report 8% CPI inflation in October, down from 8.2% in September and a peak of 9.1% in June. Economists are also projecting core CPI inflation, which excludes volatile energy and food prices, gained 6.5% in October, down from 6.6% in the previous month.

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