FXStreet (Córdoba) - According to economists from Wells Fargo today’s inflation data from the US showed gradual firm core CPI numbers that should boost Federal Reserve confidence. Key Quotes: “CPI inflation rose 0.2 percent in October with broad increases in food, energy and core items. Core CPI continues to edge higher and stands in contrast to the weak trend in the core PCE deflator this year.” “Since the start of the year, the core CPI has clearly strengthened. Through the first 10 months of the year, core inflation has risen at a 2.1 percent annual rate compared to a 1.6 percent increase at the end of 2014. This looks at odds with the core PCE deflator, which has weakened in 2015. It is not unusual for CPI inflation to run higher than the PCE deflator, but it is unusual to see the trends diverge to the extent seen over the past year.” “There will be one more reading of both the CPI and PCE deflator ahead of the FOMC’s December meeting to further evaluate how the strengthening of the dollar, still-low oil prices and improving labor market are affecting core inflation. Although not the Fed’s favorite gauge of inflation, the improving trend in core CPI should help policymakers’ confidence that, despite the stubbornly low readings of the core PCE deflator, inflation is gradually firming.” For more information, read our latest forex news.