US Inflation Eases to 7.7 Percent, Lowest Level Since January

People shop in a supermarket as rising inflation affects consumer prices in Los Angeles on June 13, 2022. Lucy Nicholson/Reuters

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.