Americans have struggled to pay ever-higher costs for everyday goods and services. They awoke on Thursday to some figures that gave them some relief. They learned that inflation is coming down -- and by more than many expected.

Analysts with the Bureau of Labor Statistics have seen the Consumer Price Index hover above 8 percent for most of the year. However, prices rose in October by only 7.7 percent, compared to a year earlier.

The analysts pointed to an easing in the costs of used cars and clothing, and they noted a decline in the cost of medical care.

President Joe Biden acknowledged in a speech in Washington that it will "take time to get inflation back to normal." However, he added that he is "laser-focused" on the issue.

In a statement, the White House said that the report shows the administration is on the "right path."