U.S. consumer prices rebounded more than expected in October and underlying inflation picked up, which together with abating trade tensions and fears of a recession, support the Federal Reserve’s signal for no further interest rate cuts in the near term, Reuters reported. The Labor Department said yesterday that its consumer price index increased 0.4 percent last month as households paid more for energy products, healthcare, food and a range of other goods. That was the largest gain in the CPI since March and followed an unchanged reading in September. In the 12 months through October, the CPI increased 1.8 percent after climbing 1.7 percent in September. Excluding the volatile food and energy components, the CPI rose 0.2 percent after edging up 0.1 percent in September. The core CPI rose as healthcare costs jumped by the most in more than three years. There were also increases in prices of used cars and trucks and recreation and rents.
