00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. consumer prices rose 0.4% in October, above economists' expectations of 0.3%,
00:10according to CBS News. The increase slowed from September's 0.6% rise.
00:16Shelter costs increased 0.3% and accounted for more than 30% of the monthly inflation increase.
00:23Food prices rose 0.5%, while energy prices climbed 0.7%, down from September's 5.2% increase.
00:32Core inflation, which excludes food and energy, rose 0.3% for the third consecutive month.
00:40Wall Street analysts expect the Federal Reserve to raise interest rates in December.
00:44CME Group's FedWatch tool showed an 85% probability of a 0.25 percentage point hike
00:51and a 15% probability of a 0.50 percentage point increase.
00:56For all things money, visit Benzinga.com.
