Inflation in October up 7.7% from previous year

Wall Street projected a 7.9% annualized increase.

The consumer price index for October increased 7.7% from the previous year and increased 0.4% from September, the federal government said Thursday.

The figures come from the Bureau of Labor Statistics.

The CPI is a broad-based measure of goods and services costs. 

Wall Street projected a 7.9% increase, compared to October 2021, and a 0.6% increase from September to October. 

The year-over-year increase was the smallest since January.