US Annual Inflation Rises to 2.6 Percent, First Increase Since March

Shelter costs accounted for half of the inflation increase in October.

A shopper makes her way through a grocery store in Miami, Fla., on July 12, 2023. Joe Raedle/Getty Images

The U.S. annual inflation rate rose for the first time since March, suggesting that the final mile toward achieving the Federal Reserve’s 2 percent target might be bumpy.

According to the Bureau of Labor Statistics (BLS), the annual inflation rate increased to 2.6 percent in October, up from 2.4 percent in September.