Inflation figures fall in the US, inflation reduced to 7.7 percent in the last 12 months

In the US, the inflation data has recorded a decline, which is believed that the country is recovering from inflationary pressures, due to which the pace of growth was slowing down. The US Labor Department said on Thursday that consumer inflation stood at 7.7 percent in October compared to a year earlier.

These figures are even less than what economists had predicted. Even as inflation corrected last month, there were strong expectations that the Federal Reserve would continue raising interest rates to rein in rising prices.However, many economists have warned that the Fed's aggressive policy to control cash flow in the market may lead to a recession next year.

In the mid-term Congress elections that ended on Tuesday, the issue of inflation was on the top of the minds of many voters. Their economic concerns caused Democrats to lose seats in the House of Representatives, although Republicans also failed to make the big political gains that many had hoped for.