INFLATION EASED IN OCTOBER, PRICES UP 7.7% IN LAST YEAR

Key Points:

  • The Consumer Price Index (CPI) rose 0.4% in October, the same reading as September.
  • CPI increased 7.7% from a year ago, down from 8.2% in September.
  • Consensus among economists was an 8.2% increase.
  • The rate of price increases remained above 5% for the seventeenth straight month.
  • Shelter, food, and gasoline indexes increased over the month.
  • The core CPI, which excludes food and energy, rose 0.3% in October and is up 6.3% from the previous year – down from the 4-decade high in September.
  • The energy index is up 17.6% and the food index is up 10.9% from the previous year.
  • The Right Facts will continue to monitor CPI.
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