The data was better than predicted by experts; And this comes a week after the Federal Reserve raised interest rates for the sixth consecutive year to control prices.
US inflation fell again in Octoberfor the fourth consecutive month, and placed its inter-annual rate at 7.7%, four tenths lower than in September, according to data published this Thursday by the Bureau of Labor Statistics (BLS, in English).
Compared to the previous month, the Consumer Price Index rose by four tenths, similar to the increase recorded in September.
this data, which better than experts predictThis comes a week after the Federal Reserve raised interest rates for the sixth consecutive year to control prices.
It was three-quarters of a point and with it the official interest rate for the world’s largest economy is currently between 3.75 and 4%, a level not seen since 2007.
Federal Reserve Chairman, Jerome PowellIt warned that potential future increases in rates and their end would depend on developments in data such as the Consumer Price Index (CPI).
According to the BLS, the housing index contributed more than half of the monthly increase in prices and Petrol and food indices also rose on a monthly basis.
Thus, the energy index increased by 1.8% while the food index increased by 0.6%.
on a year-to-year basis, The Energy Index has increased by 17.6% in the last twelve months, Whereas last year food prices have increased by 10.9 per cent.
Year-on-year data show that core inflation (which measures growth in consumer prices excluding food and energy) stood at 6.3% in October.
Inflation reached forty-year high in June9.1%, although it fell from six tenths to 8.5% in July and has since been falling slightly at a rate of one or two tenths every month, with four registered so far.
