US Inflation Picks Up To 2.6% After Dipping For Months Economic pressures and political shifts reshape consumer expectations as inflation rises for the first time since MarchU.S. inflation showed signs of mild acceleration as the Consumer Price Index (CPI) increased to 2.6% for October, marking the first uptick since March of this year. The October inflation figure reflects both year-over-year changes and the month-over-month adjustments, with October's CPI exhibiting a 0.2% rise from September. Despite these numbers representing significant decreases since the historic highs encountered during the summer of 2022, inflation still stresses many Americans. The move came as the Fed aims to navigate complex economic terrain, where inflation goals remain slightly above the 2% target. Concerns about sustained inflation are evident, as trends suggest various household expenditures continuing to bloom, potentially dampening consumer confidence.

Source: The Guardian November 14, 2024 09:58 UTC