World Economy

Core inflation remains sticky as truck employment flatlines

Core consumer prices climbed more than expected in October, reinforcing expectations that the Federal Reserve will proceed with an interest rate increase next month. The persistent inflation reading comes as the labor market shows signs of cooling in transportation sectors. Truck transportation employment held flat between September and October, according to Bureau of Labor Statistics data released Friday. The Bureau of Labor Statistics revised downward its initial figures for prior months, signaling potential headwinds for freight operators. Meanwhile, air cargo markets face structural challenges as shippers realign supply chains. Asia-Europe air cargo volumes deteriorated significantly in October, with carriers reporting sustained pressure on lanes from China and Hong Kong. Elevated inflation and softening demand in key freight corridors present a complex backdrop for logistics operators heading into year-end.