Market Updates
Consumer Prices Increase Slowed In October but Stayed Elevated
Brian Turner
10 Nov, 2022
New York City
Consumer price index in October rose at a slower pace than expected but remained elevated.
The CPI index increased 0.4% from September and advanced at a slower pace of 7.7% from a year ago, the U.S. Bureau of Labor Statistics reported Thursday.
The inflation rose at the slowest pace in January and the annual pace of increase slowed from 8.2% in September.
The increase in goods prices have slowed in recent months but services prices continue to rise at a rapid pace and inflation remains stubbornly high.
The index for shelter (or equivalent to rent or home ownership) contributed to half of the monthly gain and the index for gasoline and food continued to rise.
The consumer price inflation, excluding food and energy, slowed to 0.3% in the month from 0.5% rate in September and eased to 6.3% from 6.5% rate in the previous month.
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