October Inflation: Flat Month, Core CPI at Two-Year Low

Inflation in the US remained flat in October compared to the previous month, indicating a potential easing of high prices. The consumer price index (CPI) increased by 3.2% from a year ago, but remained unchanged for the month, according to the Labor Department. Core CPI, which excludes volatile food and energy prices, increased by 0.2% and 4% annually, the lowest level in two years. The news led to a spike in markets, with futures tied to the Dow Jones Industrial Average rising and Treasury yields falling. Traders also reduced expectations of future interest rate hikes by the Federal Reserve.