11/10/2022, 2:30 PM (Source: TeleTrader)
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US inflation down to 7.7% in October

The annual inflation in the United States clocked in at 7.7% in October, it was revealed by the Labor Statistics Bureau on Thursday. The figure decreased for the fourth consecutive month and came in cooler than analysts expected. Month on month, Consumer Price Index (CPI) was up by 0.4%.

The main contributors to the climb were shelter, food, and gasoline prices. The energy index soared 17.6% for the 12 months ending October, while the figure was 1.8% higher on a monthly basis. The food prices jumped 10.9% in comparison to the same timeframe in 2021, with the monthly reading up 0.6%.

The core CPI, which excludes food and energy, rose 6.3% in October year over year, marking a decline from the September reading, which stood at 6.6%. Compared to the month prior, the figure advanced 0.3% in October.

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