U.S. inflation ticks back up as future path under Trump uncertain – National [Video]

Inflation in the United States ticked up in October, driven by costlier rents, used cars and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021.

Consumer prices rose 2.6% from a year earlier, the Labor Department said Wednesday, up from 2.4% in September. It was the first rise in annual inflation in seven months. From September to October, prices edged up 0.2%, the same as the previous month. Excluding volatile food and energy costs, “core” prices rose 3.3% from a year earlier, the same as in September. From September to October, core prices rose 0.3% for a third straight month. Over the long run, core inflation at that pace would exceed the Fed’s 2% target.

An uptick in prices, if sustained, could stir concerns in financial markets that progress in taming inflation may be slowing. It might …