U.S. consumer prices went unchanged in October vs. September, while “core” inflation rose by its smallest annual amount in nearly 2 years, according to the latest Consumer Price Index data issued Nov. 14 by the Bureau of Labor Statistics.
The data showed that the October CPI for all consumers was unchanged on a seasonally adjusted basis, following a 0.4% monthly increase in September. On a 12-month basis, the CPI’s all items index increased 3.2%, a deceleration from September’s 3.7% annual increase.
The Bureau said that the CPI’s October energy index fell 2.5% vs. September as a 5.0% decline in the gasoline index more than offset increases in other energy component indexes. The food index increased 0.3%, following a 0.2% rise in September).
The “core” inflation index, which excludes the volatile energy and food categories, rose 0.2% in October, and followed a 0.3% September increase. On a 12-month basis, core inflation rose 4.0%, marking its smallest increase since September 2021, and decelerating from September’s 4.1%.
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