The Consumer Price Index, which measures the changes in prices for a variety of consumer goods and services, was lower than the 8.2% reading in September. “Today’s CPI report shows inflation is moving in the right direction,” said Eric Merlis, managing director, co-head of global markets at Citizens. “The report provides ammunition for the Fed to begin pricing in sub 75-basis-point tightenings. This will be a welcome development for the Fed.” On a monthly basis, prices rose by 0.4%.
That’s on par with the previous month’s increase of 0.4%. Economists were anticipating the monthly figure to grow, given October’s surge in energy prices. Still, there appeared to be some gains made in a measurement watched even more closely by the Fed: Core CPI, which excludes the more volatile categories of food and energy, was 6.3% for the year ended in October and down from the 6.6% increase posted in September. Month-on-month, core CPI increased 0.3%. It had logged monthly increases of 0.
All those states who elected Democrats can think themselves for higher consumer prices in future.
So it rose...why try to sugar coat it? so biased!!!
Whoever you choose to support in the election, you need to consider why they are spending so much money on campaigns if it is not for the benefit of the electorate. In neither case fall for a con.
Good to see prices finally going down slowly.
Was? It is, you act like this is a big improvement, it’s not. December is another rate hike to further make it impossible for people.
Ted Cruz... Are you watching?
Thanks Obama!
We are doing great now. Things will improve.
So you can skip one less meal a week... What progress!!!
My biggest concern !
While this drop is great for some politicians to brag about, things are still really expensive for the average American.
How do they figure prices are down when food, interest, rent and mortgages, medicine and gas are still going up?
False news!!! Gas, food, medicine, rents, home prices, Everything is going up!! Get a new calculator!!!!
There's nothing to address with Twitter and facebook layoffs that has nothing to do with Market pressures that's all about narcissistic billionaires and their own inferiority needs
Fake news CNN just say it incompetent blue administration created all these mess 😆
Hey CNN, on TV do you think you can give a little more news? Every day it’s the same thing 24 hours a day. Nothing else is going on in the world? You can’t have one anchor giving world news. What’s up with the elections 24 hours a day and no new updates
Hey CNN, stop with your licking GOPs boots.
The delusional investor class are telling themselves that 7.7% inflation is MUCH SLOWER than 8%… (MUCH!) and congratulations to them that happy days are here again! 🎉 (they’re not here again, ask $META)🙄 😞BullTrap
Always lede with the negative?
Wahoooo!!! Thank you President Biden. All hail the great and powerful Joe!
..and CNN adds 'this drop might be a bad sign for Pres. Biden' 😏😏😏
Poor Republicans, they wanted it to go UP.
A slightly less worse in increase. Which still rose 8% the month prior as well... and this is looked at as positive...
Best news on inflation in a year. While no where near acceptable and work to be done, this is a strong indicator that it may be finally cooling.
Huh, thought the Republicans have a great program to end inflation
This really isn't great news since the following are NOT included in the CPI... Shelter: up 0.8% in Oct Food: up 0.6% in Oct Energy: up 1.8% in Oct Fuel oil: up 19.8% in Oct
explain this Tapper and co.
Women voted for their rights. Catch up, CNN.
Rubbish. Women voted for their rights. Catch up, CNN.
Wtf CNN, inflation down more than expected and this is how you title the headline?
Any decrease is improvement. What will be be interesting is all of the people previously calling it a global problem that Biden can't control will now take a victory lap claiming his policies are fixing it.
Fox News' election night drew 7.4 million & 1.9 million viewers in the key cable 25-54 demographic scoring a win over competitors MSNBC and CNN.MSNBC's led by Maddow & Joy Reid,came second drawing only 3.2 million viewers - half of Fox News' CNN trailed with 2.6 total viewers,
More misinformation
Vote for us 🤡🤡
How did it rise if it was down?
Now I can buy more with my 9% COLA increase
I was told by republicans Inflation is still rising?!!?!?!?!?!
Vote blue to turn low and middle income into homeless people 🥺 that's how we save democracy! Let's starve ppl! Their own fault for being poor Midterms2022 VoteBlueIn2022
Voters? What is the Republican plan to stop worldwide inflation?
The equation is wrong - how do the Democrats win? In the latest poll, 73% of Americans believe that the direction of the United States is going in the wrong direction.
When do you stop the false narrative and spin re: elections.
News is actually better than that. But that want be a headline for the CNN under new ownership.
CPI-U over past 4 months (June-October) is 1.7% annualized. 4 months of data support June 2022 as 'peak inflation.'
from 8.2 to 7.7 for the year!! If true shouldn't you have phrased it this way Just one more reason why I don't watch cable news..
Good job Brandon
But it sure looks like the country is fine with that and has pretty much re-elected the status quo.
Post election news
So 7.7 percent is good. Your gaslighting is at 99.9%
Lolololololol
Corp. CEOs raising candy prices during Halloween have a lot to answer for, just like oil tycoons!
...the inflation Biden's 'experts' said wasNt gonna happen (...it's still happening)
Thanks Biden
Dropped you mean Dropped
Election results paying dividends already!