Inflation Cools in October, Now at 3.2% Annual Level as Gas Prices … – U.S. News & World Report
Consumer prices held stable in October, bringing the annual inflation rate down to 3.2% from 3.7% a month ago as energy prices receded, the Bureau of Labor Statistics said on Tuesday.
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The core consumer price index, stripping out often volatile food and energy costs, rose by 0.2%, less than analysts expected, with the annual rate down to 4% from 4.1% in September. It was the smallest annual pace since September 2021.
“Further evidence of disinflation inside the October inflation report,” RSM US Chief Economist Joseph Brusuelas posted on social media, noting that month-over-month inflation was flat at 3.2% and core inflation was up 0.2 percent to 4% over the same period.
The report will be closely studied by market observers and policy makers at the Federal Reserve for indications about the future trend of inflation. Although prices for a wide variety of goods and services have cooled this year, the current inflation rate is well above…
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