Price increases moderated in the U.S. last month in the latest sign that inflation pressures might be easing as the economy slows and consumers grow more cautious.
By PAUL WISEMAN, AP Economics Writer WASHINGTON — Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows and consumers grow more cautious.
Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the Labor Department said Thursday. The year-over-year gain was the smallest since January. Excluding volatile food and energy prices,"core" inflation rose 6.3% in the past 12 months and 0.3% from September.Even with last month's tentative easing of inflation, the Federal Reserve is widely expected to keep raising interest rates to try to stem persistently high price increases.
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