Today we witnessed a slip in the US annual inflation rate that went beyond October’s forecasts, denoting that the tense phase of hiked prices that followed the pandemic almost came to an end and uplifting hopes that the ongoing interest rate raise will also end soon.

The consumer prices jumped to 7.7% from the last year, below 8.2% of September and obviously lower than the estimates of 8.0%.

Real-time pricing has soothed than predicted. With only 0.4% climb in overall prices, coming below the 0.6% of September.

Meanwhile, the core prices that exclude food and energy rose by 0.3% instead of the estimated 0.5%.

Now we can see that, the inflation rate has clearly slumped for four consecutive months from June’s hike of 9.1% and currently at 7.7%, it is considered to be at its tiniest rate since January.

Financial markets had a robust reaction towards the news, where they priced in an earlier and lower end to the tightening of Fed Reserve’s monetary policy.

The dollar index almost dipped 1.5% pre-rebounding for trading at 108.78.