Pace of Inflation Slowed in October
A day after the Federal Reserve said the risks of inflation still outweigh the risks of recession, the latest installment of economic data shows that the Consumer Price Index rose in line with expectations in October.
The index -- which measures the change in cost of a representative basket of goods and services -- is a key inflationary indicator known to move markets. The "core" CPI excludes the often-volatile food and energy sectors and gives a clearer picture of the underlying trend of price increases. Both rose 0.2% in October.
The year-over-year CPI stands at 3.4%, while the core inflation rate stands at 2.5%.
For a discussion of the Fed's latest views about inflation risks, see TheStreet.com's separate story by senior writer Elizabeth Roy Stanton.
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