- Year-over-year inflation in October was lower in comparison to the previous month’s reading of 8.2 percent.
- Energy costs have fallen from their peak earlier this summer to produce a moderation from the 9.1 percent inflation rate in June and the 8.5 percent rate in July, although gasoline prices have since returned to an upward trajectory.
- Officials at the Federal Reserve have increased target interest rates by 0.75 percent four consecutive times, reflecting a desire to manage rising price levels.
