Inflation dropped half a percentage point to 3.2% for the year ending in October, thanks in large part to falling gas prices, a welcome development as the Federal Reserve works to contain price increases.
Inflation held steady at 3.7% for the year ending in September, buoyed by higher shelter and energy costs and defying expectations for a mild slowdown.
Inflation ticked up a tenth of a percentage point to 3.5% for the year ending in August, as measured by the personal consumption expenditures price index, the gauge favored by the Federal Reserve.
Inflation increased to a 3.7% rate for the year ending in August, the second such increase after a full year of declines, driven in large part by rising gas prices.
Federal Reserve Chairman Jerome Powell is set to give his annual speech on Friday and will try to offer a clear monetary policy vision while treading lightly given market volatility.