Annual inflation rate hit 2.6% in October, meeting expectations

Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday.

The consumer price index, which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September.

The readings were both in line with the Dow Jones estimates.

Excluding food and energy, the move was even more pronounced. Core CPI accelerated 0.3% for the month and was at 3.3% annually, also meeting forecasts.

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