油价下跌导致物价涨幅放缓，但食品价格上涨。10月，通胀按月计算的步伐放缓，家庭在汽油价格大幅上涨后得到一些缓解，但食品价格上涨。通胀高于经济学家预期，凸显美国人对价格上涨日益增长的担忧。
Falling gas prices contributed to the slower increase in prices, but food prices picked up. The pace of inflation eased on a monthly basis in October, as households saw some relief from gas prices’ steep climb, but food prices rose. And inflation came in hotter than economists expected, underscoring Americans’ growing concern about rising prices.
10月的通胀率较9月上涨0.4%，低于9月较8月上涨0.6%。
The rate of inflation in October was 0.4 percent compared with September, which is less than the 0.6 percent increase in September compared with August.
但10月的整体年度通胀步伐尚不明确，因为劳工统计局没有计算典型的同比通胀数据。一年前的政府停摆导致2025年10月数据未能发布，使得与最近的通胀报告难以比较。
But the overall annual pace of inflation in October was unclear, because the Bureau of Labor Statistics did not calculate a typical year-over-year inflation measurement. The government shutdown a year ago scrapped the release of October 2025 data, making it difficult to compare with recent inflation reports.
剔除波动较大的食品和能源价格后，核心通胀与前两个月的高位持平。经济学家表示，这表明即使燃料价格下跌，通胀也可能保持高位。
Excluding volatile food and energy increases, core inflation was about the same high pace as the prior two months. That suggests inflation could remain high even with easing fuel prices, economists say.
食品价格在近几个月一直较高但稳定，10月涨幅是自4月以来最大。
Food prices, which have been higher but stable in recent months, grew by the most since April.
牛肉、乳制品以及水果和蔬菜的涨幅最大，原因是柴油成本上升给农民带来了负担。专家表示，与厄尔尼诺风暴相关的天气事件以及移民执法，也可能导致杂货店货架上的价格飙升。
Beef, dairy, and fruits and vegetables saw the largest price hikes due to higher diesel costs that have burdened farmers. Weather events related to El Niño storms, as well as immigration enforcement, could also be contributing to the surge in sticker prices at the grocery store, experts say.
9月至10月期间，黄油、生菜、海鲜、生禽肉和牛肉以及婴儿食品和配方奶的价格大幅上涨。甜面包卷、咖啡蛋糕和甜甜圈的价格也大幅上涨。然而，咖啡价格下跌。
Butter, lettuce, seafood, uncooked poultry and beef, and baby food and formula saw sharp price increases between September and October. The cost of sweet rolls, coffee cakes and doughnuts also jumped. However, coffee prices fell.
汽油价格指数继续上涨，但涨幅有所收窄。这一降温趋势可能会持续，因为周二汽油价格首次自7月以来跌破每加仑4美元。10月的月度涨幅仅为1%，而9月为9.1%。10月电力价格也大幅上涨。
The gasoline index continued its upward climb but at a less-steep rate. The cooling trend may continue, as gas prices fell Tuesday to below $4 a gallon for the first time since July. In October the monthly increase was just 1 percent from the month before, compared with 9.1 percent in September. Electricity prices also jumped in October.
今年大部分时间，工资涨幅未能跟上物价上涨，平均实际工资增长乏力，高通胀给美国民众造成了沉重打击。
Higher inflation has hit Americans hard in terms of a lack of real wage growth on average, as wages have not kept up with price increases for most of this year.
较为温和的月度通胀报告公布时已为时过晚，无法帮助共和党在中期选举中取胜，选民在各个层级的选票中都投给了民主党候选人。民主党候选人大力宣传经济议题，诉诸选民对物价可负担性的担忧，以及他们对总统唐纳德·特朗普应对物价上涨能力的信心日益动摇。
The cooler monthly inflation report came too late to help Republican chances in the midterm elections, where voters delivered Democrats victories up and down the ballot. Democratic candidates campaigned heavily on the economy, appealing to voters’ concerns about affordability and their waning faith in President Donald Trump’s handling of rising prices.
包括马萨诸塞州参议员伊丽莎白·沃伦（D-Massachusetts）在内的民主党人，利用周二公布的通胀数据重新发起对特朗普的攻击。
Democrats, including Sen. Elizabeth Warren (D-Massachusetts), jumped Tuesday’s inflation numbers to resume their attacks on Trump.
“特朗普承诺‘第一天’就降低成本，但物价反而上涨了，”沃伦在一份书面声明中说。“国会是时候采取行动，为全国各地的家庭提供救助了，”她说。
“Trump promised to lower costs on ‘Day One,’ but prices have instead climbed,” Warren said in a written statement. “It’s time for Congress to act and deliver relief for families across this country,” she said.
许多经济学家预计，美联储将在12月会议上加息，以期降温今年高企的通胀。物价仍在上涨，通胀率已超过美联储2%的目标利率超过五年。
Many economists expect the Federal Reserve to raise rates at its December meeting in a bid to cool this year’s hot inflation. Prices are still climbing, and inflation has been above the Fed’s target rate of 2 percent for more than five years.
“今天的通胀报告是一个警告信号，”Principal Asset Management首席全球策略师西玛·沙在一份分析师备忘录中写道，并补充说，12月加息现在似乎“已成定局”。“在中期选举揭示选民对物价可负担性担忧程度仅一周之后，对美联储的信息令人不安但很明确：抗击通胀的战斗尚未结束，”沙写道。
“Today’s inflation report is a warning shot,” Seema Shah, chief global strategist at Principal Asset Management, wrote in an analyst’s note — adding that a December interest rate hike now appears “locked in.”“Coming just a week after the mid-term elections exposed the depth of voters’ concerns about affordability, the message for the Fed is uncomfortable but clear: the inflation fight is not finished,” Shah wrote.
美联储在9月时隔三年多首次加息。10月维持利率不变，但大多数美联储官员在9月就已表示，预计将在年底前再次加息。上周公布的强于预期的就业报告进一步增强了这种可能性，表明劳动力市场可能能够承受更高利率。
The Fed raised borrowing rates for the first time in more than three years in September. It held steady in October, but most Fed officials signaled in September that they expected to raise rates again before the end of the year. That potential was bolstered by a stronger-than-expected jobs report last week, suggesting the labor market could weather higher rates.
“我们还没有脱离困境，”波士顿学院经济学教授布莱恩·贝休恩说。
“We’re not out of the woods,” said Boston College economics professor Brian Bethune.
穆迪分析公司首席经济学家马克·赞迪估计，10月的同比通胀率为3.95%。
Moody’s Analytics chief economist Mark Zandi estimated the year-over-year inflation growth to be 3.95 percent in October.
“10月CPI通胀率居高不下，令人不安，原因是伊朗战争的余波、关税提高的持续传导以及人工智能相关需求激增，”赞迪在一份声明中表示。9月，随着汽油和能源价格大幅飙升，通胀率升至3.7%的年化水平。但10月汽油和柴油价格较9月高点略有回落，推动月度消费者价格涨幅放缓。
“CPI inflation was uncomfortably high in October, fueled by fallout from the war in Iran, the lingering pass-through of higher tariffs, and surging AI-related demand,” Zandi said in an In September, inflation climbed to a 3.7 percent annual pace as gas and energy prices spiked sharply. But prices for gas and diesel eased slightly in October from their September high, contributing to the slower rise in monthly consumer prices.
秋季和冬季，人们放弃公路旅行、减少外出，汽油价格通常会下降。过去一个月价格保持稳定，也得益于今年国内炼油厂以高于正常水平的产能运行。
Gas prices often ease in the fall and winter as people forgo road trips and stay closer to home. The steady prices over the last month are also helped by domestic refineries running at higher-than-normal rates this year.
进一步缓解可能即将到来——周一油价市场大幅下跌，此前特朗普周日对CNN表示，他“极不可能”需要下令对伊朗发动更多打击。
Further relief might be coming — oil price markets fell sharply Monday after Trump told CNN Sunday that it is “highly unlikely” he’ll need to order more strikes on Iran.
伊朗战争今年导致油价飙升，因为主要供应路线受到干扰，打击还损坏了主要能源生产设施。
The war in Iran has sent oil prices surging this year as main supply routes have been disrupted, and strikes have damaged major energy-producing sites.