U.S. Inflation Runs Hotter Than Expected in October

Inflation in the United States ran higher than expected in October, according to a BBC News report on October price increases. The outlet reported that prices rose by 0.4% over the month. Its summary said the increase was "driven by increases in shelter, food and energy costs."

PBS NewsHour reported, in an article by Christopher Rugaber of The Associated Press, that U.S. inflation was higher than expected last month. The report said the rising prices had helped power sweeping Democratic victories in last week's midterm elections. It said the price increases "appear likely to pose ongoing challenges for the White House and the Federal Reserve." Its headline stated that higher prices extend beyond the gas station.

The two accounts differ in emphasis. The BBC summary gives the monthly rate and the categories of prices that rose, while the PBS NewsHour summary does not state the monthly rate and focuses instead on the political and policy consequences. Neither summary gives the forecast against which October's figure was measured, so the size of the difference from expectations cannot be determined from these accounts.

Both outlets agree on the direction of the figure, reporting that inflation came in above expectations for the month. Neither account, as summarized here, describes the Federal Reserve's response or any formal statement from the White House on the data.

Sources: BBC News: US inflation higher than expected in October - here's what is happening with prices; PBS NewsHour: Inflation runs hotter than expected as higher prices extend beyond the gas station.