The latest inflation report, released Thursday, showed consumer prices starting to slow down. They increased at a pace of 7.7% in October. While that’s still a record high, it’s down from the 8.2% inflation rate in September. Economists say it’s a sign that the inflation plaguing the U.S. economy could be cooling off after reaching its highest point in 40 years over the summer.
The issue played a role in Tuesday’s midterm elections and has taken center stage for spending decisions in Trenton too. Now lawmakers are addressing a long-held complaint by the public that audits of the state’s finances should be more user-friendly and easier to understand.
