U.S. consumer prices 2.6% in October ↑...Rebound for the first time in seven months

Consumer inflation in the U.S. stopped slowing for the first time in seven months in October, data showed.

The U.S. Labor Department said the U.S. consumer price index rose 2.6% in October from a year ago and was up 0.2 percentage points compared with 2.4% in September.

It is the first time in seven months that annual growth in U.S. consumer prices has stopped slowing and rebounded since hitting 3.5% in March.

Housing prices rose 0.4% month-on-month, accounting for more than half of the total price index's gains, while the core consumer price index, excluding volatile energy and food, rose 3.3% from a year ago, the same as September's gains.

This suggests that core inflation flows in the last three months are above the U.S. Federal Reserve's 2% target when converted into annualized rates.

In the meantime, inflation concerns are rising again in the U.S. as U.S. President-elect Donald Trump pledges tariff bombs, tax cuts and immigrant policies linked to inflation.

Consumer price growth rebounded or stagnated in October compared to September's numbers, but both the flagship and core indexes met expert expectations compiled by Dow Jones.