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.

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Posted on: 2024-11-13T18:30:10+05:00