11.14.2018
The Consumer Price Index report released by the U.S. Bureau of Labor Statistics provides the latest evidence that inflation is more or less in line with where the Federal Reserve Bank wants it to be. The Consumer Price Index for all urban consumers (CPI-U) increased 0.3 percent in October on a seasonally adjusted basis after rising 0.1 percent in September. Over the last 12 months the all items index rose 2.5 percent before seasonal adjustment. The monthly increase was nudged higher by gasoline prices but there was broad based support from other categories principally shelter used cars and trucks and electricity. In contrast food slightly declined in October.
Core inflation—all items minus food and energy—rose 0.2 percent in October following a 0.1 percent rise in September. Along with indexes for shelter used cars and trucks and electricity medical care household furnishings increased in October; in contrast communications new vehicles and recreation declined during the month.
Core inflation increased 2.1 percent over the last 12 months ending in October. The energy index increased 8.9 percent while the food index increased more modestly advancing 1.2 percent over the last 12 months.
The full press release can be found via the link below.
Next release is Wednesday December 12 2018 for the November 2018 Consumer Price Index.
