October inflation report expected to show slower price growth
The U.S. government will release its latest report on consumer prices Tuesday morning, and experts think it will show that inflation is continuing to slow down.
Economists surveyed by Dow Jones Newswires and The Wall Street Journal think the Bureau of Labor Statistics report will show that prices rose 0.1% compared to September, and 3.3% compared to October 2022.
Core prices, which exclude food and energy prices because they can be highly volatile, are expected to rise 0.3% from September, and 4.1% compared to October 2022.
The report will be a major factor in the Federal Reserve’s next decision on interest rates. The central U.S. bank will meet for the final time this year Dec. 12 and 13.