Although it slowed down last month, inflation was still 

strong and likely kept Federal Reserve officials on track to begin easing

the pace of interest rate increases intended to curb price pressures.

According to data released by the Labor Department on Thursday

the consumer price index rose 7.7% in October compared

to the same month a year earlier, down from 8.2% in September and

the highest pace in forty years of 9.1% in June.

Consumer Prices Rose 7.7% in October, According to the Inflation Report