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Consumer Price Index as taken from the Bureau of Labor Statistics. I have done “nothing” to alter this report. This was not a bad report. People are reacting to past issues with pricing and costs. Unless Trump is bluffing with his tariff’s threats, I would expect some major increases in prices and costs as countries adapt to them. The US is not self-sufficient in many items and we depend upon less Overhead in other countries in supplying the US.
CONSUMER PRICE INDEX – OCTOBER 2024 released November 13, 2024
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in October, the same increase as in each of the previous 3 months, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index increased 2.6 percent before
seasonal adjustment.The index for shelter rose 0.4 percent in October, accounting for over half of the monthly all items increase. The food index also increased over the month, rising 0.2 percent as the food at home index
increased 0.1 percent and the food away from home index rose 0.2 percent. The energy index was unchanged over the month, after declining 1.9 percent in September.The index for all items less food and energy rose 0.3 percent in October, as it did in August and September. Indexes that increased in October include shelter, used cars and trucks, airline fares, medical
care, and recreation. The indexes for apparel, communication, and household furnishings and operations
were among those that decreased over the month.The all-items index rose 2.6 percent for the 12 months ending October, after rising 2.4 percent over the 12 months ending September. The all items less food and energy index rose 3.3 percent over the last 12 months. The energy index decreased 4.9 percent for the 12 months ending October. The food index increased 2.1 percent over the last year.(Click on image to enlarge)
Some Detail
FoodThe food index increased 0.2 percent in October, after rising 0.4 percent in September. The index for food at home rose 0.1 percent over the month. Five of the six major grocery store food group indexes increased in October. The cereals and bakery products index increased 1.0 percent over the month as the bread index advanced 1.9 percent. The index for dairy and related products also increased 1.0 percent in October. The fruits and vegetables index increased 0.4 percent over the month, as did the nonalcoholic beverages index. The index for other food at home increased 0.1 percent in October. The meats, poultry, fish, and eggs index fell 1.2 percent in October as the index for eggs decreased 6.4 percent over the month.The food away from home index rose 0.2 percent in October, after rising 0.3 percent in both August and September. The index for full-service meals also rose 0.2 percent over the month as did the index for limited-service meals.The food at home index rose 1.1 percent over the last 12 months. The index for meats, poultry, fish, and eggs rose 1.9 percent over the last 12 months and the index for nonalcoholic beverages increased 1.7 percent. Over the same period, the fruits and vegetables index rose 0.9 percent and the dairy and related products index increased 1.3 percent. The index for cereals and bakery products increased 0.9 percent over the year and the index for other food at home increased 0.4 percent.The food away from home index rose 3.8 percent over the last year. The index for limited-service meals increased 3.8 percent over the last 12 months and the index for full-service meals rose 3.7 percent over
the same period.
EnergyThe energy index was unchanged in October, after declining 1.9 percent in September. The gasoline index decreased 0.9 percent over the month. (Before seasonal adjustment, gasoline prices decreased 1.9 percent in October.) The electricity index increased 1.2 percent over the month and the natural gas index rose 0.3 percent.The energy index decreased 4.9 percent over the past 12 months. The gasoline index fell 12.2 percent over this 12-month span, and the fuel oil index fell 20.8 percent over that period. In contrast, the index for electricity increased 4.5 percent over the last 12 months and the index for natural gas rose 2.0
percent.
All items less food and energyThe index for all items less food and energy rose 0.3 percent in October, as it did in August and September. The shelter index increased 0.4 percent in October. The index for owners’ equivalent rent rose 0.4 percent and the index for rent rose 0.3 percent over the month. The lodging away from home index rose 0.4 percent in October, after falling 1.9 percent in September.The medical care index increased 0.3 percent over the month after increasing 0.4 percent in September. The index for physicians’ services increased 0.5 percent in October and the prescription drugs index rose 0.2 percent over the month.The used cars and trucks index rose 2.7 percent in October, after rising 0.3 percent in the previous month. The index for airline fares rose 3.2 percent over the month and the index for recreation increased 0.4 percent. Other indexes that increased in October include personal care and education.The index for apparel fell 1.5 percent in October, following a 1.1-percent increase the preceding month. The communication index decreased 0.6 percent over the month, as it did in September. The index for household furnishings and operations and the index for motor vehicle insurance also declined in October. The new vehicles index was unchanged over the month.The index for all items less food and energy rose 3.3 percent over the past 12 months. The shelter index
increased 4.9 percent over the last year, accounting for over 65 percent of the total 12-month increase in
the all items less food and energy index. Other indexes with notable increases over the last year include
motor vehicle insurance (+14.0 percent), medical care (+3.3 percent), education (+3.8 percent), and
personal care (+2.5 percent).
Not seasonally adjusted CPI measuresThe Consumer Price Index for All Urban Consumers (CPI-U) increased 2.6 percent over the last 12 months to an index level of 315.664 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the last 12 months to an index level of 309.358 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.4 percent over the last 12 months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis. Note: the indexes for the past 10 to 12 months are subject to revision.More By This Author:Manufacturing And Trade Inventories And Sales: September 2024 Access To Medical Care: Right Or Privilege? United States’ Fiscal Policy In A Global Context
Consumer Price Index – October 2024
