US CPI Data Sparks Global Inflation Fears Ahead of Federal Reserve Rate Decision

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Overall US prices rose 0.4 percent in October after a 0.6 percent increase in September.

Annual inflation sits at approximately 4 percent, remaining well above the Federal Reserve's 2 percent target.

Fed Governor Christopher J. Waller raised the prospect of a larger half-point interest rate hike in December.

Stock markets fell following the data release, with the S&P 500 opening down 0.7 percent.

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