US Inflation Finally Offers Relief, But There’s Still a Long Way to Go

From bnnbloomberg.ca

A cooling in US consumer prices offered cheer to households, investors and Federal Reserve officials, but there’s still a long way before high inflation becomes history. At 7.7%, annual inflation in October was the slowest since January -- before the start of Russia’s war in Ukraine that triggered a worldwide surge in commodities and pump prices. Even more importantly for the Fed, a closely watched measure that excludes food and energy decelerated by more than economists anticipated. With slowdowns across categories including food, apparel and used cars, the report suggests that the fastest price increases in ... (full story)