US Consumers See Some Relief as , Inflation , Eased in October.<br />Associated Press reports that inflation in the United <br />States slowed in October as the Federal Reserve's <br />rate hikes work to cool consumer price increases. .<br />Associated Press reports that inflation in the United <br />States slowed in October as the Federal Reserve's <br />rate hikes work to cool consumer price increases. .<br />A November 14 report from the Labor Department <br />shows that prices either lowered or rose just<br />slightly across a range of goods and services. .<br />A November 14 report from the Labor Department <br />shows that prices either lowered or rose just<br />slightly across a range of goods and services. .<br />From September to October, <br />overall inflation remained unchanged. .<br />Compared to the same time in 2022, <br />consumer prices rose 3.2% for the month, <br />down from a 3.7% increase in September. .<br />It was the smallest year-over-year <br />increase since June of this year. .<br />So-called core prices rose just 0.2% <br />from September to October, dropping <br />below the pace set in the two months prior. .<br />AP reports that economists watch <br />core prices closely as they are thought <br />to offer an indication of inflation's trajectory.<br />AP reports that economists watch <br />core prices closely as they are thought <br />to offer an indication of inflation's trajectory.<br />Compared to the same time in 2022, <br />core prices increased 4% in October, down <br />slightly from a 4.1% increase in September. .<br />The lower-than-expected numbers could <br />inspire the Fed to pause its rate-hiking <br />campaign to cool inflation. .<br />Last week, the Fed's Chair Jerome Powell said <br />that officials were "not confident" that the eleven <br />rate hikes in the past year have tamed inflation. .<br />AP reports that the rate increases have managed to <br />drop year-over-year inflation from a peak of 9.1% <br />in June of 2022, to just 3.7% in September of 2023.
