US Annual Inflation Rate , Fell to 7.7% in October.<br />The Consumer Price Index data was released on Nov. 10, two days after midterm elections.<br />It shows that inflation in October increased by 0.4%, <br />which is the same increase as September.<br />President Joe Biden responded to the report.<br />It will take time to get inflation back to normal levels — and we could see setbacks along <br />the way — , President Joe Biden, via NBC News.<br />... but we will keep at it and help families with the cost of living, President Joe Biden, via NBC News.<br />Americans are already paying around $1.20 less per gallon of gas than this summer. , President Joe Biden, via NBC News.<br />Today’s report shows a much-needed break in inflation at the grocery store as we head into the holidays. , President Joe Biden, via NBC News.<br />Some analysts say that inflation likely played an important role in the results of the midterm elections. .<br />It isn’t just the ongoing pace of increase that is troublesome but the pervasiveness of surging prices across various spending categories that has scarred household budgets, Greg McBride, Bankrate Chief Financial Analyst, <br />via NBC News.<br />Other analysts stated that the data points to a possibility that there will be no recession.<br />We still see a very plausible ... path from the high-inflation economy of the present to a low-inflation economy of the future without a recession, Jan Hatzius, Goldman Sachs Economist, <br />via NBC News.<br />The data points to the complexities of the <br />U.S. economy, in that the recent interest rate hikes have not been a cure-all for inflation.<br />Despite a half-dozen interest rate hikes by the Federal Reserve, any broad-based, significant and sustained easing of inflation pressures <br />remains elusive, Greg McBride, Bankrate Chief Financial Analyst, <br />via NBC News