Consumer prices climbed at a 7.7% annual pace in October, marking a slowdown from September as the cost of some goods and travel services showed signs of cooling.
The consumer-price index ticked up 0.4% in October from a month earlier, the Labor Department reported Thursday, compared to a 0.4% climb in September. Economists had expected prices to rise 0.6% in October from September.
Core CPI, which excludes the volatile food and energy indexes, is expected to have decelerated slightly in October to a 0.5% monthly pace and a 6.5% annual pace. That compares with 0.6% and 6.6%, respectively, the month before.
One likely bright spot is in goods prices, where economists expect costs may have decelerated over the month as used-car prices fell.
Source: MarketWatch