US Consumer Inflation: Inflation in the US increased less than expected in October, inflation rate was 7.7%

Inflation Down In US: There is news of relief for the people of America. There can be a brake on the expensive loan. Inflation has come down in the month of October. Inflation has come down due to the fall in the prices of many things. Inflation has had an impact on the US economy. Consumers are cutting spending, the effect of which has been seen on the results of companies.

According to the Labor Department, the consumer inflation rate in October 2022 was 7.7 percent, while in September the inflation rate was 8.2 percent. This is the lowest increase in inflation rate since January. Excluding food and energy prices, core inflation grew 6.3 per cent in 12 months, compared to 0.3 per cent since September. The figures of inflation that have come are less than the estimates of economists.

In the US, the inflation rate had reached the highest level of 40 years, since then the Central Bank Federal Reserve has been making loans expensive. However, it is believed that the trend of raising interest rates is going to continue. With the Federal Reserve raising interest rates, there is a possibility of a recession in the US next year.

In 2022, the Federal Reserve has announced to raise interest rates six times. In fact, the Federal Reserve wants to reduce the purchasing power of people through expensive loans, so that inflation can be controlled. Because due to cheap loans, people were buying houses and cars along with shopping for expensive things from the land.

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However, the effect of expensive debt is beginning to be seen on the US economy. Even before the recession, companies have started laying off. From Meta to Twitter, companies like Alphabet and IBM are doing layoffs for the purpose of reducing spending.

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