U.S. inflation eased slightly last month as the Federal Reserve raised interest rates to get a grip on prices that have surged at a historic pace.
The Consumer Price Index (CPI) in October reflected a 7.7% increase over last year and 0.4% increase over the prior month, the Bureau of Labor Statistics said Thursday. Economists had expected prices rose at an annual 7.9% clip and 0.5% month-over-month, per Bloomberg consensus estimates.
On a “core” basis, which strips out the volatile food and…
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