Inflation cooled slightly in October but continues to hover near record highs.
According to a Fox Business report, the Labor Department said Thursday morning that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in October from the previous month. Prices climbed 7.7% on an annual basis.
“Those figures were both lower than the 8% headline figure and 0.5% monthly increase forecast by Refinitiv economists,” Fox Business adds.
This story is developing…
BREAKING NEWS: Inflation holds grip on US economy in October as prices remain stubbornly highhttps://t.co/5lHB3y4jLx
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