US prices held steady in October as inflation slowed further

Source: CNBC

“Prices for consumers are growing at a slower pace, the U.S. government reported Tuesday morning, as overall prices in October were the same as what consumers paid in September. The Bureau of Labor Statistics says prices in October were unchanged as gasoline prices declined and shelter costs continued to rise. Its Consumer Price Index rose 3.2% compared to a year ago, the latest sign that inflation is slowing down as interest rates rise and the job market gives up some of the strength it has shown in the last few years. The CPI results were about equal to what experts had expected. Economists surveyed by Dow Jones Newswires and The Wall Street Journal had projected an 0.1% increase in prices compared to September, and 3.2% from October 2022.” (11/14/23)