At the same time, Reuters reports trade tensions are receding and fears of a recession are fading.
That's supported the Federal Reserve’s signal for no further interest rate cuts in the near term.
The Labor Department said on Wednesday its consumer price index increased 0.4% last month.
Households paid more for energy products, healthcare, food, and a range of other goods.
Food prices rose 0.2%, rising for a second straight month.
And Americans ate out less in October, too. In fact, food consumed at home gained 0.3%.
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