Economic activity in the United States changed little over the last six weeks, according to a new Federal Reserve report. It reports continued easing of labour market tightness, with prices continuing to increase, although more modestly.

“The near-term outlook for the economy was generally described as stable or having slightly weaker growth,” the Fed said in the latest “Beige Book”, a collection of surveys, interviews and observations gathered across the central bank’s 12 districts, through to 6 October. “Overall, firms expect prices to increase the next few quarters, but at a slower rate than the previous few quarters,” it said.

The report is slightly at odds with other data suggesting that the economy is gaining momentum, according to Reuters. Recent data suggests retail sales and manufacturing are growing more quickly than expected, hiring is on the rise and consumer prices continue to grow at around 4%.