United States: Inflation declines to lowest level since January in October
Inflation came in at 7.7% in October, down from Septembers 8.2%. October’s figure marked the lowest inflation rate since January, and was below market expectations. The figure was primarily due to lower price pressures for energy and food. That said, inflation was still well above the Federal Reserves 2.0% target.
The trend pointed up mildly, with annual average inflation coming in at 8.0% in October (September: 7.9%). Meanwhile, core inflation fell to 6.3% in October, from the previous month’s 6.6%.
Lastly, consumer prices rose 0.44% from the previous month in October, largely in line with the 0.39% rise logged in September. October’s uptick was the highest reading since June.