logo

This website uses cookies to ensure you get the best experience on our website.

Read through the Privacy Policy to understand better

 Go Back

US inflation rose slightly last month after 2 years of steady cooling but remained low

By CHRISTOPHER RUGABER - Nov 13, 2024, 11:50 AM ET
Last Updated - Dec 16, 2024, 05:26 PM EST
Consumer Prices
FILE - Prices are displayed at a grocery store in Chicago on Sept. 19, 2024. (AP Photo/Nam Y. Huh, File)

Inflation in the United States ticked up in October, driven by costlier rents, used cars, and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021

WASHINGTON (AP) — Inflation in the United States ticked up in October, driven by costlier rents, used cars and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021.

Consumer prices rose 2.6% from a year earlier, the Labor Department said Wednesday, up from 2.4% in September. It was the first rise in annual inflation in seven months. From September to October, prices edged up 0.2%, the same as the previous month.

Sponsored

Excluding volatile food and energy costs, “core” prices rose 3.3% from a year earlier, just as in September. From September to October, core prices rose 0.3% for a third straight month. Over the long run, core inflation at that pace would exceed the Federal Reserve’s 2% target.

Most economists, though, think inflation will eventually resume its slowdown. Consumer inflation, which peaked at 9.1% in 2022, has since fallen steadily, though overall prices are still about 20% higher than they were three years ago.

By continuing to use this site, you agree to our terms and conditions
Sponsored
Sponsored
Sponsored
Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
    Phone: +1 (425) 414-0184
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
    Phone: +91 80 4902 2100
4.2 20250324