US Inflation Gauge Ticks Higher With Price Pressures Still Stubborn
November 27, 2024 10:55AM EST
Credit: MGN
WASHINGTON (AP) — Consumer price increases accelerated last month, the latest sign that inflation’s steady decline over the past two years has stalled.
According to the Federal Reserve’s preferred inflation gauge, consumer prices rose 2.3% in October from a year earlier, the Commerce Department said Wednesday.
That is up from just 2.1% in September, though it is still only modestly above the Fed’s 2% target.