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