The consumer price index rose less than expected in October, a sign that while inflation remains a threat to the US economy, pressures may begin to cool.
The consumer price index, a broad measure of the cost of goods and services, rose 0.4% on the month and 7.7% from a year ago. Estimates from Dow Jones are up 0.6% and 7.9%, respectively.
Excluding fluctuating food and energy costs, the so-called core CPI increased by 0.3% month-on-month and 6.3% year-on-year, compared with estimates of 0.5% and 6.5%, respectively. .
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