BREAKING NEWS: Inflation Eased in October, CPI Report Shows

The yearly rate of inflation dipped to 3.2 percent in October.

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You’re just getting started. Access compliance alerts, tools and more. JOIN NOW       Inflation Eased in October, CPI Report Shows   The annual rate of inflation ticked down in October, but stubbornly high prices kept inflation at the same pace on a monthly basis, new data out today finds. The yearly rate of inflation dipped to 3.2 percent in October, according to the Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics (BLS), down from the 3.7 percent rate as reported in September. Real average hourly earnings increased 0.8 percent, seasonally adjusted, from October 2022 to October 2023, the BLS reported separately today. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in no change in real average weekly earnings over this period. Despite the slowdown in inflation, employees are still worried about high costs of living. A Bank of America report found that two-thirds (67 percent) of employees said they believe the cost of living is outpacing growth in their salary or wages.   READ MORE   Advertisement     How Much Should You Pay For HR Software in 2024? How do you know if you're spending too much or too little on Human Resources software? This FREE guide from Software Advice breaks down upfront, subscription and hidden costs, plus answers other questions you've been wondering about. Get help with your search now! Get Free Pricing Guide       Connect with us on social!              1800 Duke Street, Alexandria, Virginia 22314 USA Contact Us | shrm.org This email was sent to manojdole1.Architectural@blogger.com. This email may contain advertisements. Unsubscribe or Change Email Preferences | Terms of Use | Privacy Policy © 2023 SHRM. All rights reserved.