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US Inflation Eases to 7.7 Percent, Lowest Level Since January

Started by Epoch-Times-Bot, Nov 10, 2022, 08:15 AM

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Epoch-Times-Bot

Nov 10, 2022, 08:15 AM
US Inflation Eases to 7.7 Percent, Lowest Level Since January

The U.S. annual inflation rate eased to 7.7 percent in October, down from 8.2 percent in September, according to new data from the Bureau of Labor Statistics (BLS).
The core inflation rate, which eliminates the volatile energy and food sectors, also dropped to 6.3 percent last month, down from 6.6 percent.
On a month-over-month basis, the consumer price index (CPI) rose 0.4 percent, while the core CPI edged up 0.3 percent.
The market consensus was an 8 percent reading in October. But some estimates had suggested a higher figure.
The Federal Reserve Bank of Cleveland’s Nowcast anticipated an 8.1 percent print, while Trading Economics also projected an 8.1 percent headline number....

Source: US Inflation Eases to 7.7 Percent, Lowest Level Since January

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