Consumer Prices Rose 0.4% in October

Washington, DC, November 17, 2016—The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in October on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics has reported.

Over the last 12 months, the all items index rose 1.6% before seasonal adjustment.

As in September, increases in the shelter and gasoline indexes were the main causes of the rise in the all items index. The gasoline index rose 7.0% in October and accounted for more than half of the increase in the all items index. The shelter index increased 0.4% for the second straight month.

The energy index increased 3.5%, its largest advance since February 2013. The indexes for fuel oil and gasoline were up 5.9% and 7.0%, respectively, while the indexes for electricity and natural gas saw relatively smaller increases of 0.4% and 0.9%. In contrast, the index for food was unchanged for the fourth consecutive month, as the food at home index continued to decline.

The index for all items less food and energy rose 0.1% for the second straight month. Along with the shelter index, the indexes for apparel, new vehicles, and motor vehicle insurance all increased in October, as did the indexes for education, household furnishings and operations, alcoholic beverages, and tobacco. The indexes for personal care, communication, used cars and trucks, recreation, and airfare all declined. The medical care index was flat over the month.

The all items index rose 1.6% for the 12 months ending October, its largest 12-month increase since October 2014. The index for all items less food and energy rose 2.1% for the 12 months ending October. The food index declined 0.4% over the span, while the energy index rose 0.1%.