CICC: Inflation stickiness persists, supporting the Fed to continue raising rates.

CICC research report indicates that US October CPI rose 0.4% month-on-month on a seasonally adjusted basis, while core CPI rose 0.3% month-on-month, both above market expectations. The US government shutdown in October last year prevented the release of economic data, so year-on-year figures are missing. Overall, inflation stickiness remains strong, with core CPI rising 0.3% month-on-month for the third consecutive month, supporting the Federal Reserve in continuing to raise interest rates. Recently, Federal Reserve Governor Waller suggested that a 50 basis point rate hike in December cannot be ruled out.