US consumer inflation fell to 7.7% in the past 12 months – Times of India


WASHINGTON: Price increases in the United States moderated last month in the latest sign that inflationary pressures gripping the country could ease as the economy slows and consumers become more cautious.
Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the Labor Ministry said on Thursday. The year-on-year profit was the smallest since January. Excluding volatile food and energy prices, ‘core’ inflation rose 6.3% over the past 12 months and 0.3% from September.
The numbers were all lower than economists had expected.
Even with last month’s tentative decline in inflation, the Federal Reserve is widely expected to continue raising interest rates to try to curb continued high price increases. However, many economists warn that by continuing to tighten credit aggressively, the fed likely to lead to a recession next year.

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