US Inflation Rates
The annual inflation rate in the US slowed for a 4th month to 7.7% in October, the lowest since January, and below forecasts of 8%. It compares with 8.2% in September.
US Inflation Rates
Energy cost increased 17.6%, below 19.8% in September, due to gasoline (17.5% vs 18.2%) and electricity (14.1% vs 15.5%). A slowdown was also seen in food (10.9% vs 11.2%) and used cars and trucks (2% vs 7.2%).
US Inflation Rates
On the other hand, prices for shelter (6.9% vs 6.6%) and fuel oil (68.5% vs 58.1%) increased faster. Compared to the previous month, the CPI rose 0.4%, below expectations of 0.6%.
US Inflation Rates
Shelter contributed over half of the increase (0.8%) and gasoline rose 4%, after falling in the previous 3 months. At the same time, cost of medical care services (-0.6%) and commodities (0%) pushed the CPI down.
US Inflation Rates
Still, figures continue to point to strong inflationary pressures and a broad price increase across the economy, mainly in the services sector while prices of goods have benefited from some improvements in supply chains