- Price levels rose 7.7 percent between October 2021 and October 2022, according to a Thursday report from the Bureau of Labor Statistics, indicating that inflation has begun to slow amid contractionary policy from the Federal Reserve.
- The month-to-month increase of 0.4 percent was below analysts’ forecasts, while the 0.3 percent increase in core inflation, which factors out the more volatile food and energy categories, was likewise lower than expected.
- “Any meaningful relief for household budgets is still somewhere over the horizon,” he continued. “Inflation has run far hotter for far longer than expected and we have yet to string together any kind of winning streak… there is plenty of opportunity for further disappointment.”
