The Bureau of Labor Statistics reported that consumer prices remained steady in October due to a decline in oil prices, but “core” inflation grew at the slowest annual rate since September 2021.

Prices rose 0% last month and 3.2% over the last year, down from September’s 0.4% monthly increase and 3.7% annual growth.

The shelter index increased 6.7% unadjusted, the weakest increase in a year.

Rent increases were high but dropping within core inflation.

Motor vehicle insurance rose 1.9%, while used car and truck, new vehicle, airline tickets, and household furnishings and operations indexes fell.