Inflation Cools in October

In a report released by the Bureau of Labor Statistics (BLS) last week, the Consumer Price Index (CPI) showed that inflation slowed during the month of October, even decreasing in many areas. From September to October of last year, overall inflation rose 3.2 percent compared to 2023 when no increase was recorded during the same time period. Food and energy prices, also known as core inflation, were only 0.2 percent last month, which is slightly lower than the two months prior. Specifically, the energy index fell 2.5 percent which included a 5 percent decline in the gasoline index. Inflation for all items other than food and energy also slowed from months prior with only a 0.2 percent increase being seen in October.

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