Fed: Several districts say price growth eased

EPA-EFE/SHAWN THEW

Several United States Federal Reserve districts reported "some easing" in price growth, and expected it to "generally moderate," the Fed revealed on Wednesday in its October Beige Book. However, input price increases were "significant," while "growth in selling prices was mixed."

The overall economic activity in the country "expanded modestly" since the previous report, but the outlook was "more pessimistic amidst growing concerns about weakening demand," the document said.

Most Fed districts noted that employment growth continued at a "modest to moderate pace," and several districts "reported a cooling in labor demand, with some noting that businesses were hesitant to add to payrolls amid increased concerns of an economic downturn."

Baha Breaking News (BBN) / MS