Total CPI was up 0.4% m/m in October (Briefing.com consensus +0.3%), driven largely by higher energy costs, while core CPI, which excludes food and energy, increased 0.2%, as expected.
The monthly changes left the yr/yr changes at 1.8% for total CPI (up from 1.7% previously) and 2.3% for core CPI (down from 2.4% previously).
The energy index increased 2.7% m/m and accounted for more than half of the increase in total CPI.
The food index jumped 0.2%.
The shelter index rose 0.1%, which was the smallest increase since October 2013.
The apparel price index fell 1.8% while the price index for new vehicles declined 0.2%.
The key takeaway from the report is that consumer inflation is firming up, but it isn't turning up yet to an actionable, rate-hike degree for the Federal Reserve.| OCT | SEP | AUG | JUL | JUN | |
|---|---|---|---|---|---|
| All Items | 0.4% | 0.0% | 0.1% | 0.3% | 0.1% |
| Food and Beverages | 0.2% | 0.1% | 0.0% | 0.1% | 0.1% |
| Housing | 0.2% | 0.3% | 0.1% | 0.3% | 0.3% |
| Equivalent Rent | 0.2% | 0.3% | 0.2% | 0.2% | 0.3% |
| Apparel | -1.8% | -0.4% | 0.2% | 0.4% | 1.1% |
| Transportation | 1.0% | -0.7% | -0.6% | 0.8% | -0.7% |
| Vehicles | 0.5% | -0.6% | 0.3% | 0.2% | 0.6% |
| Motor Fuel | 3.7% | -2.4% | -3.5% | 2.5% | -3.6% |
| Medical Care | 1.0% | 0.2% | 0.7% | 0.5% | 0.3% |
| Educ and Commun | 0.0% | 0.0% | 0.0% | 0.2% | 0.1% |
| Special Indices | |||||
| Core | 0.2% | 0.1% | 0.3% | 0.3% | 0.3% |
| Energy | 2.7% | -1.4% | -1.9% | 1.3% | -2.3% |
| Services | 0.3% | 0.2% | 0.2% | 0.3% | 0.2% |
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