US inflation drops to 7.7%

Costs for rents increased, but the price of cars, clothes and medical care helped slow the rate of inflation in the US

US supermarket shelf
The rise in the cost of food is slowing
(Image credit: © Spencer Platt/Getty Images)

US inflation slowed in October.

The consumer price index rose 7.7% year on year in October, the smallest annual increase since the start of the year.

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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.