As expected by economic forecasters, inflation heated up in October. The consumer price index sped up as expected to a 2.6% year-over-year growth rate in October from September's rate of 2.4%. Inflation had been cooling down for most of 2024.

Annual inflation may have risen in October for the first time in seven months, a sign that price increases might be leveling off after steadily cooling for more than two years

Price increases in the US picked up last month, as progress toward stabilising prices appeared to stall. Consumer prices rose 2.6% over the 12 months to October, the Labor Department said. That marked a slight uptick from 2.

Even as inflation has slowed, that progress hasn't reversed a leap in prices that dates back to the pandemic. Since President Joe Biden took office in 2021, consumer prices have s

The Labor Department on Wednesday reported that consumer prices in October rose 2.6% from a year earlier. That marks a pickup in the pace of inflation from September, when prices were up 2.4% on the year.

A fresh Consumer Price Index report could show that inflation, much cooler than in 2022 and 2023, is not fully stamped out.