Inflation & Prices
Powell’s ‘Most Important’ Inflation Indicator Is Cooling Down
A commuter carries shopping bags on Market Street in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
A measure of US inflation flagged by Federal Reserve Chair Jerome Powell as perhaps the “most important” guide to the outlook posted a slowdown last month, according to Commerce Department data published Thursday.
Prices of services excluding housing and energy services rose 0.3% in October, the smallest increase in three months, and down from a 0.5% jump in September.