US inflation rises 2.6% in Oct
MG News | November 13, 2024 at 06:30 PM GMT+05:00
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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