Consumer prices continued to climb in October as the pace of overall inflation held at the level hit a month earlier and underlying inflation excluding food and fuel slowed.
Leaders from Saudi Arabia and China said on Friday that the two nations will strengthen cooperation on energy after the Islamic kingdom’s falling out with the United States.
Inflation from the perspective of business costs—which tend to get passed along to consumers—soared in September, reversing the prior month’s decline and coming in twice as high as markets expected, pointing to a drawn-out Fed fight against high prices.