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CPI: Inflation Eases

November 14, 2022

Woman Surprised at Receipt

The consumer price index (CPI) rose less than expected in October. The index of goods and services increased 0.4% month-over-month and 7.7% year-over-year. CPI has fallen steadily since June. Despite the slowdown, the rate of inflation remains well above the Federal Reserve target of 2%, which could mean further interest rate hikes ahead.