- Nov 23, 2021
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Inflation cools much more than expected in October
Americans and the Federal Reserve got some welcome news Thursday on inflation.
amp.cnn.com
Now, compared to October a year ago, prices were 7.7% higher, so almost 8%.“ . . The Consumer Price Index rose 7.7% for the year ending in October, a much slower pace of increase than the 8% economists had expected . . ”
“ . . On a monthly basis, prices rose by 0.4%. That's on par with the previous month's increase of 0.4%. Economists were anticipating the monthly figure to grow, given energy prices marched upward in October amid a move by OPEC+ to slash oil production and ongoing uncertainty in Russia's war in Ukraine. . ”
But taking it month to month, an excellent sign that inflation is moderating.
And I’ll take good news where I can find it, ‘course I will!