Inflation Fell To 7.7 Percent Annual Increase In October

Consumer prices rose at slower rates in October, according to data released Thursday by the Labor Department.

The annual inflation rate fell to 7.7 percent in October from 8.2 percent in September, according to the consumer price index (CPI), a closely watched inflation gauge. Economists expected the annual inflation rate to fall to 7.9 percent, according to consensus projections.