US inflation rose 0.4% in October as price increases cooled and gas costs dipped

New data comes after Republicans’ midterms losses – which were largely seen as a rebuke of the party over high prices

US inflation rose 0.4% from September to October, slightly above expectations but still a cooldown in price increases as the cost of gas dipped during the month.

The Bureau of Labor Statistics did not release the usual year-over-year inflation figure as part of the consumer price index (CPI), which measures the price of a basket of goods and services, as data was not collected in October 2025 during the government shutdown.

Higher energy costs driven by the Iran war have been the main factor behind increased inflation, which has been above an annualized 3% since the war started in late February. 7%.