US inflation rises 2.6% in Oct

MG News | November 13, 2024 at 06:30 PM GMT+05:00

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November 13, 2024 (MLN): US inflation rose 2.6% over the prior year in October compared to a gain of 2.4% last month and 3.2% in October 2023, U.S. Bureau of Labor Statistics reported on Wednesday.

The annual rise in the consumer price index (CPI) was in line with the market expectations.

On a monthly basis, CPI rose 0.2% for the fourth consecutive month in October.

Core inflation, measured by non-food non-energy, rose 3.3% over the prior year as compared to an increase of 3.3% YoY in the previous month and an increase of 4% YoY in October 2023.

On a monthly basis, core CPI increased 0.3% for the third consecutive month in October 2024.

Metric	Actual	Estimate
CPI MoM	0.2%	0.2%
CPI YoY	2.6%	2.6%
Core CPI MoM	0.3%	0.3%
Core CPI YoY	3.3%	3.3%

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