The consumer price index for October rose 0.4% over the prior month and 7.7% from a year ago. Even with the slowdown in the inflation rate, it remains well above the Fed’s 2% target, and several areas of the report show that the cost of living still remains high.
On the other hand, the Central bank announced its fourth straight interest rate hike of three-quarters of a percentage point last week, continuing its aggressive and unprecedented campaign to get inflation under control.
