Annual inflation may have risen in October for the first time in seven months, a sign that price increases might be leveling off after steadily cooling for more than two
US consumer inflation edged higher last month spurred by an increase in housing costs, according to government data published Wednesday, complicating the
A rise in prices could make the Federal Reserve less likely to cut its key interest rate in the coming months. But most economists believe inflation will continue its slowdown.
If the uptick continues, it could be reflected in rising prices at the grocery store, and make the Fed less likely to lower interest rates again for homebuyers.
If the uptick continues, it could be reflected in rising prices at the grocery store, and make the Fed less likely to lower interest rates again for homebuyers.
Inflation in the United States ticked up in October, driven by costlier rents, used cars, and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021.
(CNN) — Inflation moved in the wrong direction last month as price pressures persisted in areas such as housing, used cars and food.Consumer prices rose 0.2%
Consumer prices rose 2.6% from a year earlier, up from 2.4% in September. It was the first increase in annual inflation in seven months. From September to October, prices edged up 0.2%.
Most of the monthly increase in consumer prices reflected an increase in rents and housing costs, a trend that Fed officials expect to fade in the coming months.
The Consumer Price Index (CPI) rose steadily in October, at a pace likely modest enough to keep the Federal Reserve on course to cut interest rates again.
Consumer Price Index inflation increased 0.2% in October for an un-adjusted annual rate of 2.6%, meeting expectations, according to the Bureau of Labor Statistics.
Inflation rose slightly in October in line with economists' expectations, as the consumer price index was up 2.6% from a year ago and 0.2% compared with last month.
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Inflation accelerated in October, offering first look at prices since election | Since Then
