U.S. President Donald Trump on Friday rolled back tariffs on more than 200 food products, including such staples as coffee, beef, bananas and orange juice, in the face of growing angst among American consumers about the high cost of groceries.

The results for October (and November) will not increase inflation worries at the Fed. Headline CPI is estimated to stay steady at the 3 per cent September figure for both October and November. There are other modelled estimates of inflation which concur with the Cleveland Fed’s estimates.

The last thing the American economy needs right now is another dose of uncertainty, but that's exactly what it got this week.

Kansas City Federal Reserve President Jeffrey Schmid on Friday said his concerns about "too hot" inflation go well beyond the narrow effects of tariffs alone, in fresh remarks that signaled he could dissent again at the Fed's December meeting should policymakers opt to cut short-term borrowing costs again.

The acceleration of inflation last month was driven by a wide range of factors. Some, including housing costs, have been persistent drivers of price growth. But food and energy costs, which can be volatile month to month,

India’s inflation rate fell to a record low in October, driven by a sharp drop in food prices, prompting economists to predict more aggressive interest rate cuts.

Cleveland Federal Reserve President Beth Hammack said on Thursday monetary policy needs to remain in a position where it can help lower inflation pressures, suggesting she leans against the U.S. central bank cutting interest rates again in the near future.

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Chancellor has been pushing cabinet ministers to find ways to reduce financial pressure on households ahead of Budget

India's annual retail inflation slowed to a record low of 0.25% in October from a revised 1.44% in September, government data showed on Wednesday.