Consumer Prices Slightly Rise in October

The Consumer Price Index grew 0.1% in October on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.5% September increase. Over the last 12 months, the all-items index rose 2.0%.

Prices for all items less food and energy, the “core CPI,” grew 0.2% in October, following a 0.1% September increases. The index rose 1.8% for the 12 months ending in October.

The food index and prices for food at home were unchanged, while food away from home grew 0.1%. Over the past 12 months, food prices are up 1.3%.

The energy index fell 1.0% in October after a 6.1% increase in September. September’s accelerated growth and October’s retreat were due to Hurricanes Harvey and Irma. The October decline was driven by a 2.4% decrease in gasoline prices. The energy index rose 6.4% in the last twelve months.

Read the BLS release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
More from Stephen Newton >