Inflation subsided in October in the country, after several months of rebound, good news for Joe Biden's government, one year before the presidential election, for the Federal Reserve and for the markets.
The Consumer Price Index (CPI) increased 3.2% in the 12 months ended in October, half a percentage point less than the year-on-year inflation recorded in September (3.7%), the Department of Labor reported in a statement.
Inflation remained unchanged in the month-to-month comparison in October compared to September, although a sharp monthly drop in energy prices was recorded.
Although the reduction in the price of gasoline was mainly responsible for the moderation in consumer prices, the fall was partially offset by a continued increase in housing, the Department of Labor said.
Price drops for hotel accommodation, car rentals and plane tickets were also recorded. On the other hand, food, housing, car insurance and health care rose.
Core inflation, which excludes volatile prices such as food and energy, also had a sharp decline, to its lowest level in two years, 4% in 12 months, and 0.2% in one month compared to 0.3% in September .
Prices had soared after the pandemic in the United States, as in the rest of the world, to reach a 40-year high in June of last year, at 9.1%.
A year later it was already at 3%. But driven by housing and gasoline, inflation rose again during the summer.
