CPI was unchanged in October

The Consumer Price Index was unchanged in October on a seasonally adjusted basis, after increasing 0.4% in September, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index increased 3.2% before seasonal adjustment.

Prices for all items less food and energy, the “core CPI,” rose 0.2% in October, after rising 0.3% in September.

The shelter index was the largest factor in the monthly increase in the index for all items less food and energy. The index for shelter continued to rise in October, offsetting a decline in the gasoline index and resulting in the seasonally adjusted index being unchanged over the month. The shelter index increased 0.3% in October, after rising 0.6% the previous month.

The food index increased 0.3% in October, after rising 0.2% in each of the last 3 months. The index for food at home increased 0.3% over the month, after rising 0.1% in September. Four of the six major grocery store food group indexes increased over the month. The index for meats, poultry, fish, and eggs rose 0.7% in October as the index for beef increased 1.2% and the index for pork rose 1.3%. The food away from home index rose 0.4% in October.

The energy index fell 2.5% in October after increasing 1.5% in September. A significant decline in the gasoline index more than offset increases in other energy component indexes and largely contributed to the overall decrease of the energy index. The gasoline index decreased 5.0% in October, following a 2.1% increase in the previous month. The fuel oil index (not seasonally adjusted) decreased 0.8% in October.

Read the BLS release.

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