An inflation gauge tracked by the Fed slows to still-high 6%

A MEASURE OF inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. The report from the Commerce Department showed that prices rose 6% in October from a year earlier. / SETH WENIG / ASSOCIATED PRESS
WASHINGTON (AP) – A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed's intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday's report from the Commerce Department showed that prices rose 6%…

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