US inflation runs hotter than expected in October as higher prices extend beyond the gas station

Summary

U.S. inflation was higher than expected last month, in a sign that the rising prices that powered sweeping Democratic victories in last week's midterm elections will continue to pose challenges for the White House and Federal Reserve, the LA Times and The Philadelphia Inquirer reported on Tuesday 10 November. Consumer prices rose more than expected in October, the consumer price index minus food and energy rising 0.3% from a month earlier and overall prices 0.4%, Bloomberg reported, and food and energy prices drove the index higher, likely keeping the Federal Reserve on track to raise interest rates next month, grocery, gasoline and electricity prices all rising, according to Bloomberg. NBC News, headlining that inflation posted its slowest rise in three months as gas prices drop, wrote that inflation in October rose 0.4% month-over-month, after energy prices eased throughout the month.

Latest: U.S. inflation was higher than expected last month as higher prices extend beyond the gas station, the LA Times, PBS NewsHour and The Philadelphia Inquirer reported, Bloomberg writing that the consumer price index minus food and energy rose 0.3% from a month earlier and overall prices 0.4%, likely keeping the Federal Reserve on track to raise interest rates next month, and NBC News that inflation posted its slowest rise in three months as energy prices eased throughout the month.

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