Inflation eased to 7.7% in October as underlying price increases excluding energy and food slowed from a four-decade high
In 2021, officials thought that high inflation would be temporary. But a year later, it’s still near a four-decade high. WSJ’s Jon Hilsenrath explains three factors that have kept inflation up for longer than expected. Illustration: Jacob ReynoldsInflation eased to 7.7% in October, the Labor Department said Thursday, as underlying price increases excluding energy and food slowed from a four-decade high.
The consumer-price index measures what consumers pay for goods and services. The so-called core CPI excludes volatile energy and food prices.
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