US Core Services Costs Stay Elevated, While Goods Prices Soften
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An underlying measure of US goods inflation posted its smallest annual advance last month since April 2021, while a gauge of services costs remained elevated.
Excluding food and energy, the price of merchandise rose 5.1% in October from a year ago, Labor Department data showed Thursday. That’s down from the 6.6% increase in the prior month and reflects a further softening in the indexes for bedroom furniture, clothing and used cars. In February, the core goods gauge hit a multi-decade high of 12.3%.