The U.S. Consumer Price Index, which measures the month-over-month and year-over-year change in prices paid by consumers for goods and services, increased for the third consecutive month during September.

The Bureau of Labor Statistics’ monthly Consumer Price Index — released Oct. 24 — showed an All-Items Index increase of 0.3% for September (seasonally adjusted). It followed a 0.4% increase in August and modestly trailed economists’ expectations.

The 0.3% increase on a seasonally adjusted basis follows a 0.4% increase in August. Over the last 12 months, the CPI’s All Items index increased 3.0% before seasonal adjustment. Core consumer prices likewise rose less than what economists anticipated.

The CPI report was the first and only official economic data provided since the U.S. government shutdown began on Oct. 1.

In September, the monthly increase was driven by a 4.1% rise in the index for gas, as the index for energy rose 1.5%. The food index rose 0.2% month-over-month.

Indexes that increased over the month include shelter, airline fares, recreation, household furnishings and operations, and apparel. The indexes for motor vehicle insurance, used cars and trucks and communication were among the few major indexes that decreased in September.

The all items index rose 3.0% for the 12 months ending September after rising 2.9% over the 12 months ending August. The all items less food and energy index rose 3.0% over the last 12 months. The energy index increased 2.8% for the 12 months ending September. The food index increased 3.1% over the last year.

U.S. Core Inflation Rate Month-Over-Month

source: tradingeconomics.com