![Inflation Report Leaves Fed on Track for 0.5-Point Rate Rise in December Inflation Report Leaves Fed on Track for 0.5-Point Rate Rise in December](https://morningtopnews.com/wp-content/uploads/2022/11/1668120473_social-768x384.jpeg)
[ad_1]
The October inflation report is likely to keep Federal Reserve officials on track to approve a half-percentage-point interest-rate increase next month, stepping down from the recent pace of unusually hefty rate rises.
The Labor Department reported Thursday that consumer prices rose at a slower pace in October than in recent months. Core prices, which exclude volatile food and energy items, rose 0.3% from September, the smallest monthly gain in one year, and by 6.3% on a year-over-year basis, down from 6.6%.
[ad_2]
Source link