US Consumers See Some Relief as , Inflation , Eased in October.
Associated Press reports that inflation in the United
States slowed in October as the Federal Reserve's
rate hikes work to cool consumer price increases. .
Associated Press reports that inflation in the United
States slowed in October as the Federal Reserve's
rate hikes work to cool consumer price increases. .
A November 14 report from the Labor Department
shows that prices either lowered or rose just
slightly across a range of goods and services. .
A November 14 report from the Labor Department
shows that prices either lowered or rose just
slightly across a range of goods and services. .
From September to October,
overall inflation remained unchanged. .
Compared to the same time in 2022,
consumer prices rose 3.2% for the month,
down from a 3.7% increase in September. .
It was the smallest year-over-year
increase since June of this year. .
So-called core prices rose just 0.2%
from September to October, dropping
below the pace set in the two months prior. .
AP reports that economists watch
core prices closely as they are thought
to offer an indication of inflation's trajectory.
AP reports that economists watch
core prices closely as they are thought
to offer an indication of inflation's trajectory.
Compared to the same time in 2022,
core prices increased 4% in October, down
slightly from a 4.1% increase in September. .
The lower-than-expected numbers could
inspire the Fed to pause its rate-hiking
campaign to cool inflation. .
Last week, the Fed's Chair Jerome Powell said
that officials were "not confident" that the eleven
rate hikes in the past year have tamed inflation. .
AP reports that the rate increases have managed to
drop year-over-year inflation from a peak of 9.1%
in June of 2022, to just 3.7% in September of 2023.