Market Updates
Core Inflation Dropped to 2-year Low but Stayed Significantly Ahead of Fed's Target Rate
Brian Turner
14 Nov, 2023
New York City
The consumer price index, the measure of consumer inflation, slowed to 3.2% in October, the U.S. Bureau of Labor Statistics reported Tuesday.
The annual rate of inflation in October fell from 3.7% in September and August, but the monthly inflation measure was unchanged from the previous month.
Inflation eased largely because of a sharp decline in energy prices of 4.5%, compared to a decline of 0.5% in September.
Core inflation, which strips off volatile food and energy prices, rose 4.0% from a year ago and edged up 0.2% from the previous month, indicating stubborn and well-anchored inflation in the broader economy.
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