October CPI, bitcoin rally, Trump taps Musk

The US Bureau of Labor Statistics released its Consumer Price Index (CPI) report for October, which saw inflation rising in line with economist expectations. 

Takeaways:

• October's Consumer Price Index (CPI) report saw prices rise 0.2% month-over-month and 2.6% annually, in line with economist forecasts. The core inflation reading — which excludes food and energy prices — rose 0.3% monthly and 3.3% year-over-year, which were also in line with estimates.
• Bitcoin (BTC-USD) continues to rally, the cryptocurrency now shooting to a new record high above $89,000 Wednesday morning.
• President-elect Donald Trump taps billionaire Elon Musk and Vivek Ramaswamy to lead his Department of Government Efficiency (DOGE).

Yahoo Finance's flagship show, Morning Brief, is the ultimate guide to making smarter portfolio decisions.

Find this and other episodes of Morning Brief here.

Thoughts? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.

Yahoo Finance's Morning Brief is hosted by Seana Smith and Brad Smith.

Learn more about your ad choices. Visit megaphone.fm/adchoices