US Inflation Eases Below 8 Percent for First Time Since February

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The U.S. annual inflation rate eased to 7.7 percent in October, down from 8.2 percent in September, according to new data from the Bureau of Labor Statistics (BLS).

The core inflation rate, which eliminates the volatile energy and food sectors, also dropped to 6.3 percent last month, down from 6.6 percent.

On a month-over-month basis, the consumer price index (CPI) rose 0.4 percent, while the core CPI edged up 0.3 percent.

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