Graham Stephan: Inflation will fall to 5%

The window it was checked over

Consumer price index (CPI): U.S. Bureau of Labor Statistics via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

What was said around it

right now and why the inflation debacle could soon be coming to an end here's what you need to know because this is about to have a huge impact across everything I hope you're sitting down because For the First Time In what feels like an eternity inflation declined in October to 7.7 percent which was below expectations and half a percent less than we saw the month prior this was also the smallest 12-month reading since January which means that Jerome Powell could actually be doing his job in fact the Consumer Price Index Rose just 0.4 percent from the month prior suggesting that on a year-over-year basis we could be heading towards an inflation rate of less than five percent by this time next year so why is it going down exactly well we signed that decline in the net cost of Medical Care apparel used cars and trucks Gas and energy everything else like food shelter and transportation still increased but at a much slower Pace than the month prior it was also found that the only cost to have substantially gone up was Fuel and gasoline which was 20 percent higher than the month before likely for the news that OPEC would begin cutting production in advance of a potential consumer recession

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