Closing post
With Wall Street on track for a blowout session it’s time to wrap up.
Here’s today main stories, on a busy day in which hopes have built that the worst of the inflation crisis could be over….
Full story: US annual inflation rate cools slightly to 7.7% in October
Prices of goods and services in the US were up 7.7% in October compared with the same time last year, a sign that inflation is slowly starting to cool after reaching decades-high records over the last few months.
The US Bureau of Labor Statistics reported on Thursday that in October, the consumer price index showed a 7.7% rise in prices over the last 12 months, a 0.5 percentage-point decrease from September, which saw a rate of 8.2%. The October inflation rate is the lowest since January, when rates rose to 7.5%.
Along with the slight cooling in the overall inflation rate, the core inflation rate, which excludes the volatile energy and food sectors, also showed a small tempering off, reaching 6.3% – a small increase compared to the core inflation rate last month.
