Inflation Rate Slows 

The Consumer Price Index was unchanged in October after a .4 increase in September, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the-all items index increased 3.2% before seasonal adjustment. That is half of the 12-month rate in January 2023, which was 6.4% and well below the inflation peak of 9.1% in June 2022. Inflation continues to remain above the Federal Reserve’s 2% annual inflation target.  However, this report does show that inflation continues, with the index for shelter offsetting a decline in the gasoline index. The food index increased by .3% Click here for the press release.