The Consumer Price Index (CPI) rose four tenths in October, while year-on-year inflation rose from 1.7 to 1.8%, the government said Wednesday.

Core inflation, which excludes energy and food prices due to their volatility, rose by 0.2% last month, and compared to October 2018 it fell slightly from 2.4% to 2.3%.

The price increase in October is the highest in seven months and was due to the rise in the cost of gasoline, which rose by 3.7% last month, as well as medical services, which grew by 1%.

However, petrol prices have fallen by 7% in the cumulative last 12 months.

Despite the slight upturn in October, the year-on-year rate remains below the 2% target set by the Federal Reserve (Fed).

The inflation figure is known two weeks after the Fed cut its benchmark interest rates to between 1.5 and 1.75% for the third consecutive time, in the face of concerns about an economic slowdown.

President Donald Trump has repeatedly criticized the central bank and insisted that it must lower the price of money “to zero or less” to contribute to economic expansion.

The national economy advanced at an annual rate of 1.9% in the third quarter of 2019, according to the first of three calculations of the evolution of gross domestic product (GDP) in that period.

The data points to the gradual slowdown of the US economy after registering a growth rate of 3.1% in the first quarter of the year and 2% in the second quarter.

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