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US consumer price inflation rate slowed slightly last month.
It rose 7.7%, the lowest since January.
Expectations are rising that the US can slow rate hikes.
Correspondent Kim Jong-won from New York reports.
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The US consumer price index in October rose 7.7% from a year earlier.
This was the smallest increase in nine months since January and was below the market consensus of 7.9%.
Considering the recent increase in consumer prices by more than 8% per month, the rate of growth has slowed considerably.
Compared to the consumer price level a month ago, the increase was only 0.4%, lower than the market consensus of 0.6%.
Core consumer prices, excluding food and energy, which have high price volatility, also rose only 6.3%, lower than the market forecast.
In particular, despite the recent rise in energy prices, such as rising international oil prices, medical expenses and used car prices have fallen, contributing to price stability.
Food prices, which have recently soared, have also been found to have calmed somewhat.
As inflation has subsided, the market is optimistic that the Fed will be able to slow the pace of rate hikes.
The prospect that the Fed will take a giant step in raising interest rates by 0.75 percentage points for the fifth time in a row at the last monetary policy meeting of the year next month is shifting toward a sharp drop of 0.5 percentage points after today's inflation announcement.
On the 11th, the New York Stock Exchange rose sharply all at once on such anticipation.