Inflation Remains Subdued in October

The pandemic has played hob with all our normal economic indicators, but it’s still worth paying attention to them periodically. The October inflation numbers were released today and showed no change from September. Headline inflation was 1.2 percent compared to the previous year. Core inflation, which omits food and energy, was up slightly more, but still subdued at 1.6 percent compared to the previous year:

The biggest increase was for used cars and trucks, which increased 11.5 percent compared to a year ago. New cars increased only 1.5 percent, in line with overall inflation.

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