US yearly consumer inflation increases to 2.6 percent in October

2024-11-14 01:54:43

(MENAFN) The yearly consumer inflation volume in the US rose to 2.6 percent in the previous month, in line with market expectations, based on formal data published on Wednesday.

Surging for seven sequential months, the number was surged from 2.4 percent in the previous couple of years, which was the least volume since February 2021.

The yearly decrease in energy prices dropped in October by 4.9 percent following dropping 6.8 in the prior month.

Conversely, the cost of food increased at a slower rate last month, rising 2.1% year-on-year, compared to 2.3% in September.

Core inflation, stripping out volatile food and energy prices, stayed steady t 3.3 percent in the previous couple of months.

Monthly, consumer prices index rose by 0.2 percent in the previous month, in line with the past three months, matching the expectations.

Monthly core increase was also stable at 0.3 percent.

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