US Inflation Eases in October as Consumer Spending Cools

The Personal Consumption Expenditures price index, a key measure of inflation, showed signs of fading in October, with a 3% increase compared to 3.4% the previous month. After excluding volatile food and fuel prices, inflation climbed 3.5% over the year, down from 3.7% previously. Consumer spending also moderated in October, rising 0.2% from September. These developments are seen as positive news for the Federal Reserve, which has already raised interest rates and may now assess how policy plays out. While some officials suggest that inflation may moderate enough to halt further rate hikes, they remain cautious and will closely monitor economic data before making any decisions.