Inflation Likely Eased Last Month Thanks To Cheaper Gas

WASHINGTON (AP) — Inflation in the United States likely remained high last month, a trend that if sustained could raise concerns at the Federal Reserve, which is considering whether to raise interest rates again. Still, cheaper gas might have slowed a broad measure of overall inflation in October. Excluding volatile food and energy prices, core inflation is forecast to have risen 0.3% from September to October for a third straight month. Monthly increases at that pace would be too high to meet the Fed’s 2% annual inflation target. Economists pay particular attention to core prices, which are believed to provide a good signal of inflation’s likely future path.