US consumer price inflation cooled in October after a two-month increase, with the Consumer Price Index rising by 3.2% for the 12 months ending in October, down from 3.7% in September, according to Bureau of Labor Statistics data. On a monthly basis, prices were unchanged for the first time since July 2022. A month before, they shot up 0.4 per cent as gas and rent costs added upward pressure. Economists anticipated a 0.1 per cent monthly increase and a 3.3 per cent year-over-year gain, according to Refinitv consensus estimates. There also was positive news on the underlying inflation front. Core CPI, which excludes the more volatile food and energy categories, climbed 0.2 per cent monthly, bringing the annual increase to 4 per cent, which is the lowest yearly increase since September 2021. As per news agency report, The index cooled from the prior month, when core CPI rose 0.2 per cent monthly and 4.1 per cent annually.