Inflation cools in October as the Fed continues its outsize rate hikes
From the supermarket to paying the rent, high prices have been slamming Americans, but inflation is coming down.
Just over the month, seasonally-adjusted CPI increased 0.4% in October, less than the 0.6% forecast by economists surveyed by Bloomberg and same as the month-over-month increase of 0.4% seen a month prior in September. After sliding in the past few months, energy prices increased 17.6% in October from the same time a year ago. On a seasonally adjusted basis, it saw a one-month rise of 1.8% in October.
Not seasonally adjusted food prices increased 10.9% from the same time a year ago. Food prices are still high but the year-over-year change in October falls below the year-over-year increase seen in September.
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