Axios reports that “the Consumer Price Index was flat in October, helped by a drop in gasoline prices and a slower pick-up in rents, the Labor Department said on Tuesday.”
The cooling if inflation pressures, analysts say, is “the freshest sign that easing is happening alongside a still-solid U.S. economy.”
According to the story, “Overall prices rose 3.2% in the 12 months through October, slowing from the 3.7% in September and well-below the peak levels reached last year. Core CPI rose 4%, compared to 4.1% the prior month … Prices for gasoline, used cars and trucks fell outright last month, helping cool over inflation.
“Meanwhile, shelter costs rose at a much slower pace last month – a sign that long-await disinflation that’s been expected by economists is finally showing up.”
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