Inflation was flat in October from the previous month, providing a hopeful sign that stubbornly high prices are easing their grip on the U.S. economy.
The consumer price index, which measures a broad basket of commonly used goods and services, increased 3.2% from a year ago despite being unchanged for the month, according to seasonally adjusted numbers from the Labor Department on Tuesday.
🇺🇸 #Inflation | CPI: Main downside came from:
➡ Shelter that slowed from +0.6% MoM to +0.3% MoM as "Lodging away from home" component partly reversed Sep. move (from +3.7% to -2.5%).
➡ Used cars and trucks that fell 0.8% MoM (Manheim index pointed to an upside risk for Oct.)… pic.twitter.com/0DyGAggAKJ
— Christophe Barraud🛢🐳 (@C_Barraud) November 14, 2023
h/t Tonight We Ride!