Energy fell 1.9 percent after slipping 0.7 percent September. Gasoline dropped 3.0 percent after declining 1.0 percent the month before. Food price inflation rose 0.1 percent, following a gain of 0.3 percent in September.
For the core rate, the shelter index, airline fares, household furnishings and operations, medical care, recreation, personal care, tobacco, and new vehicles were among the indexes that increased. The indexes for used cars and trucks and for apparel declined in October.
On a seasonally adjusted basis, the headline CPI was up year-ago 1.7 percent versus 1.7 percent in September. Excluding food and energy, the year-ago pace was 1.8 percent, compared to 1.7 percent the month before.
While consumer price inflation firmed marginally, the year-ago rate is still below the Fed's target of 2 percent-especially when converted to a PCE basis which has been running below the CPI.
Recent History Of This Indicator:
The consumer price index for September came in soft although the headline number was marginally above forecasts. Overall consumer prices in September firmed 0.1 percent after falling 0.2 percent in August. Market expectations were for no change. Excluding food and energy, the CPI also nudged up 0.1 percent, following no change in August. The consensus was for a 0.1 percent increase in September. Energy slipped 0.7 percent, following a drop of 2.6 percent in August. Gasoline declined 1.0 percent, following a 4.1 percent drop in August. Food price inflation gained 0.3 percent after posting a 0.2 percent gain in August. The index for all items less food and energy increased 0.1 percent in September. Along with the shelter index, the index for medical care increased, and the indexes for alcoholic beverages and for personal care advanced slightly. Several indexes were unchanged, and the indexes for airline fares and for used cars and trucks declined in September. On a seasonally adjusted basis, the headline CPI was up year-ago 1.7 percent in September-matching August. Excluding food and energy, the year-ago pace was 1.7 percent, also equaling the August pace.
The consumer price index for September came in soft although the headline number was marginally above forecasts. Overall consumer prices in September firmed 0.1 percent after falling 0.2 percent in August. Market expectations were for no change. Excluding food and energy, the CPI also nudged up 0.1 percent, following no change in August. The consensus was for a 0.1 percent increase in September. Energy slipped 0.7 percent, following a drop of 2.6 percent in August. Gasoline declined 1.0 percent, following a 4.1 percent drop in August. Food price inflation gained 0.3 percent after posting a 0.2 percent gain in August. The index for all items less food and energy increased 0.1 percent in September. Along with the shelter index, the index for medical care increased, and the indexes for alcoholic beverages and for personal care advanced slightly. Several indexes were unchanged, and the indexes for airline fares and for used cars and trucks declined in September. On a seasonally adjusted basis, the headline CPI was up year-ago 1.7 percent in September-matching August. Excluding food and energy, the year-ago pace was 1.7 percent, also equaling the August pace.
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