“It’s pretty clear that inflation has definitely peaked and is rolling over. All the trend lines suggest that it will continue to moderate going forward, assuming that nothing goes off the rails.”
Chief economist Mark Zandi, Moody's Analytics, on new inflation data for October. It showed signs of consumer prices easing but is still sitting at historically high levels.
nov 10, 2022
Big Picture: High inflation means your dollar buys you less. The inflation reading remains much higher than "normal." However, economists like Zandi feel somewhat optimistic about the latest data because inflation rose less than economists expected. What Zandi defines as "off the rails" remains TBD though and we reserve some room for the unexpected.
The increased prices of shelter (housing), food and energy contributed to the year-over-year increase in inflation in October, while the costs for medical care services, apparel and used cars decreased.
Consumer prices rose 0.4% in October, less than expected, as inflation eases (CNBC)