INFLATION GAUGE TRACKED BY THE FED SLOWS TO 6%

A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed that prices rose 6% in October from a year earlier. That was the smallest increase since November 2021 and was down from a 6.3% yearover-year rise in September.