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US inflation rate drops to 7.7%
Just in: US inflation was lower than forecast last month, in a welcome sign that the surge in prices may be fading.
The US consumer prices index rose by 7.7% in October, down from 8.2% in September, a bigger fall than expected.
That’s the lowest annual inflation reading since January 2022 – news that will cheer the Federal Reserve and the White House in the battle against inflation.
During October alone,…
