Fed’s Preferred Inflation Gauge Shows Easing Price Pressures – RVBusiness – Breaking RV Industry News

WASHINGTON — The Federal Reserve’s preferred inflation measure cooled last month, the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth, according to an Associated Press report.

Thursday’s report from the Commerce Department said prices were unchanged from September to October, down from a 0.4% rise the previous month. Compared with a year ago, consumer prices rose 3% in October, below the 3.4% annual rate in September. That was the lowest year-over-year inflation rate in more than 2 1/2 years.

Excluding volatile food and energy costs, increases in so-called core prices also slowed. They rose just 0.2% from September to October, down from a 0.3% increase the previous month. Compared with 12 months ago, core prices rose 3.5%, below the 3.7% year-over-year increase in September. Economists closely track core prices, which are thought to provide a good sign of inflation’s likely future path.

Click here to read the full Associated Press report.

Source: https://rvbusiness.com/feds-preferred-inflation-gauge-shows-easing-price-pressures/