US Consumer Price Index Increases 2.6% Year-Over-Year in October

On Wednesday, the US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis in October—the same increase as in each of the 3 previous months. Over the past 12 months, the all-items index has increased 2.6% before seasonal adjustment.

According to the BLS, the index for shelter increased 0.4% in October, accounting for over half of the monthly all items increase. The food index also increased over the month, rising 0.2% as the food at home index increased 0.1% and the food away from home index rose 0.2%. The energy index was unchanged, after declining 1.9% in September.

The index for all items less food and energy rose 0.3% in October, as it did in August and September. Indexes that increased in October include shelter, used cars and trucks, airline fares, medical care, and recreation. The indexes for apparel, communication, and household furnishings and operations were among those that declined.

The all-items index rose 2.6% for the 12 months ending in October, after increasing 2.4% over the 12 months ending in September. The all items less food and energy index rose 3.3%. The energy index decreased 4.9%. The food index increased 2.1%.