Inflation slowed to 7.7% in October

The Consumer Price Index rose 0.4% in October on a seasonally adjusted basis after rising 0.4% in September, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, all items index increased 7.7%.

Prices for all items less food and energy, the “core CPI,” rose 0.3% in October, after increasing 0.6% in September.

The food index increased 0.6% in October, after rising 0.8% in September. The index for food at home rose 0.4% over the month, after rising 0.7% in September. In October, the increase was attributed to a rise in four of the six major grocery store food group indexes. Notably, meats, poultry, fish, and eggs rose 0.6% while the index for cereals and bakery products rose 0.8% over the month. The food away from home index increased, rising 0.9%. The food index rose 10.9% over the last 12 months.

The energy index increased 1.8% in October after falling in the preceding 3 months. The gasoline index rose 4.0% over the month following three consecutive declines. The fuel oil index (not seasonally adjusted) rose 68.5% in September.

Read the BLS release.