October Inflation Report Shows Consumer Prices Rose 7.7% From Year Earlier

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Inflation eased last month to the slowest pace since January but remained high, likely keeping Federal Reserve officials on course to start slowing the pace of interest-rate rises aimed at taming price pressures.The Labor Department on Thursday said that its consumer-price index increased 7.7% in October from the same month a year ago, down from 8.2% in September and June’s 9.1% rate, which was the highest in four decades.

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