Washington | Annual inflation in the United States slowed to 7.7 per cent last month, the lowest since January, sparking a surge on financial markets and giving the Federal Reserve some room to ease the pace of interest rate rises.
October’s increase marks the first time the Consumer Price Index has risen at an annual rate of less than 8 per cent since February. Annual CPI peaked at 9.1 per cent in June.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
