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Prices held steady in October as inflation slowed further

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Prices held steady in October as inflation slowed further

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Prices held steady in October, with inflation rising just 0.1 percent for the month, according to the Bureau of Labor Statistics. This is the slowest pace of inflation in five months, and the lowest since January.

Consumer prices were up 1.7 percent over the year compared to 1.8 percent in September. Core inflation, which excludes volatile food and energy prices, was up 1.6 percent over the year, with prices rising 0.1 percent for the month.

The slowing inflation reflects a combination of factors, including a larger increase in imports than expected, a dip in car prices, and a decline in prices for transportation services.

The slowing inflation rate could indicate that the Federal Reserve won’t raise rates anytime soon. The Fed has kept interest rates unchanged in order to help maintain an accommodative monetary policy that helps the economy grow.

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