US consumer inflation for the year was 3.2% in October, down from a gain of 3.7% in September

Consumer price index was constant from the prior month.

According to data released on Tuesday, annual consumer inflation in the US decreased to 3.2% in October from a 3.7% increase in September.

Additionally, the result fell short of projections, which called for a 3.3% annual increase.

In August, there was a 3.7% annual increase in the consumer price index (CPI), which tracks changes in the costs of goods and services from the viewpoint of the consumer.

The 9.1% annual growth in June of last year, which was the most since November 1981, is significantly less than that amount now.

The CPI did not change from the previous month, however it did fall short of projections of a 0.1% gain and increased by 0.4% from September.

According to a Labor Department statement, “the shelter index was the largest factor in the monthly increase in the index for all items, less food and energy.”

After increasing by 0.3% in September, the core CPI—which does not include volatile food and energy prices—gained 0.2% in October compared to the previous month. This figure fell short of the 0.3% forecast.

October’s core CPI grew by 4% annually, following a 4.1% increase in September that was also below market expectations of a 4.1% increase.

“The energy index decreased 4.5 percent for the 12 months ending October, and the food index increased 3.3 percent over the last year,” stated the statement.