Consumer Price Index Has The Smallest Rise Since January

The CPI report indicates a drop in inflation to 7.7% in October, a better-than-expected outcome. While the White House remains cautious, Heather Boushey from the President's Council of Economic Advisors notes the improvement as a positive sign for American families. Key inflation contributors include shelter, food, and gas, with shelter being the most significant. Despite the hopeful report, the Federal Reserve is likely to continue raising interest rates. The economy shows strength with steady job gains and no increase in unemployment claims. The CPI news positively impacted Wall Street, with major indexes rising.

What was the reported inflation rate for October, and how did the White House react?

• 7.7%, with no comment

• 8.5%, with celebration

• 7.7%, with cautious optimism

• 6.9%, with concern

Which category was the largest contributor to inflation last month?

• Healthcare

• Shelter

• Gas

• Food

What is the Federal Reserve expected to do in response to the current inflation report?

• Maintain current interest rates

• Lower interest rates

• Stop all monetary policies

• Raise interest rates

What positive economic indicators were mentioned in the report?

• Decrease in job gains

• Increase in unemployment claims

• Strong job gains and positive economic growth

• Negative economic growth

How did Wall Street react to the CPI report?

• Major indexes fell

• Major indexes were unaffected

• Major indexes remained stable

• Major indexes soared