U.S. consumer inflation decelerated in October, the Labor Department said Wednesday. The consumer price index increased 0.2% in October, driven by a 2.6% gain in energy prices. Other price increases were moderate, including food. The core CPI, excluding food and energy costs, was flat for the third straight month in October. Economists were expecting the CPI to rise 0.3% in October and for the core rate to rise 0.1%. In the past year, the CPI has risen 1.2%. The core rate is up 0.6%, the slowest pace on record and well below the Fed's target of about a 2% rate.
Source: BLS
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