WASHINGTON – U.S. consumer prices were unchanged in October, the lowest reading in five months and an indication that a price spike over the summer is beginning to fade as coronavirus cases begin to spread.The Labor Department reported Thursday that the flat reading in October followed a gain of 0.2% in September.
Core inflation, which excludes volatile food and energy costs, also showed no changed in October, another indication that inflation remains well-behaved.Over the past 12 months, overall inflation is up a moderate 1.2% while core inflation is up 1.6%.
Both readings are well below the Federal Reserve's 2% target.Used car prices, which had been surging, retreated slightly in October, dropping 0.1% after a 6.7% jump n September which.