Daily Management Review

Inflation in the USA in October slows to 3.2%


According to data from the US Labor Department, consumer prices (CPI) increased 3.2% in October 2023 compared to the same month the previous year.

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Inflation decreased from 3.7% in September. According to Trading Economics, the consensus estimate called for a slowdown to 3.3%.
After declining by 0.5% in September, the energy sector saw an annualized 4.5% decline last month. September saw increases in food prices of 3.3% (+3.7%) and new car prices of 1.9% (+2.5%). The transportation services saw a 9.2% (+9.1%) increase.
In comparison to the prior month, the CPI index remained unchanged in October. Experts projected an increase of 0.1% on average. This was the first time since July 2022 that the index did not rise.
The Core CPI, which measures consumer prices excluding the price of food and energy, increased by 0.2% on a monthly basis and 4% on an annualized basis, which is a two-year low. Growth of 4.1% and 0.3%, respectively, was predicted by the consensus forecast. The indicator increased by 0.3% month over month and 4.1% year over year in September.
source: tradingeconomics.com