While consumer prices are higher than a year ago, inflation seems to have cooled.
This is according to Tuesday’s report from the Labor Department.
According to the report, October consumer prices were 3.2% higher than a year ago.
Rent, medical care, and auto insurance all rose for the month, while hotel, travel, and car rental prices dropped.
Meanwhile, gasoline prices dropped by 5% last month, which was a help to overall inflation.