The U.S. Bureau of Labor Statistics reported Wednesday that inflation picked up in October but was broadly in line with Wall Street expectations.
The consumer price index, which measures the cost of a range of goods and services, rose 0.2% for the month. This brought the 12-month inflation rate to 2.6%, up 0.2 percentage points from September.
These readings were in line with Dow Jones estimates.
Excluding food and energy, the change is even more pronounced. Core CPI rose 0.3% this month, an annual increase of 3.3%, also in line with expectations.
This is breaking news. Please check back for updates.
