U.S. consumer prices were unchanged in October vs. September, while the annual rate continued to decelerate.
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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Mike Hockett
Mike Hockett is MDM’s executive editor, having joined the publication in March 2022. He oversees MDM’s editorial content and direction, coordinates with contributing authors, conducts interviews with executives in the wholesale distribution space and serves as the editorial face of MDM at industry events. He has extensively covered the distribution and manufacturing sectors since 2014. Hockett earned a degree in print journalism from the University of Wisconsin-Eau Claire and works from his home in Madison, Wisconsin. He can be contacted at mike@mdm.com.
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