October inflation increases 0.2%, same as previous three months

October’s Consumer Price Index report shows a 0.2% increase, the same increase as the previous three months, the U.S. Bureau of Labor Statistics reported Wednesday.

“Both headline and core consumer price indices rose in October, aligning with expectations, although the topline figure showed a slight year-over-year increase,” said Dawit Kebede, America’s Credit Unions senior economist. “Overall prices increased by 0.2% for the fourth consecutive month, translating to an annualized increase of about 2.4%. While shelter and used car prices accelerated compared to the prior month, the pace of increase for transportation and medical services slowed down. The monthly rise for core prices (excluding food and energy) was driven by services, as commodity prices remained flat in October.”

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