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US’ annual inflation rises 7.7% in October

US’ annual inflation rises 7.7% in October

ArabFinance: The Consumer Price Index for All Urban Consumers rose by 0.4% month-on-month (MoM) in October 2022, but annually increased by 7.7%, according to a report by the Bureau of Labor Statistics of the United States on November 10th.

The energy index rose 1.8% MoM in October, while the food index edged higher by 0.6% MoM and the home index inched up by 0.4% MoM.

The index for all items less food and energy rose 0.3% MoM in October, after rising 0.6% MoM in September.

It is worth noting that the US’ inflation hit 8.2% in September 2022, a slightly smaller figure than the 8.3% increase for the period ending August.

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