Key Highlights
The October Consumer Price Index () report reveals a significant slowdown in inflation, aligning closely with economists’ predictions. The CPI for All Urban Consumers (CPI-U) remained unchanged in October after a 0.4% increase in September. This stagnation is a notable shift, reflecting the impact of decreased energy costs, particularly in gasoline prices. Key Influences and VariationsThe primary contributing factor to the unchanged CPI was a decrease in energy costs, particularly a 5.0% decline in gasoline prices. Conversely, food prices continued their upward trend, albeit at a modest rate. The food index rose by 0.3% in October, slightly higher than September’s 0.2% increase. Core inflation, which excludes food and energy, rose by a modest 0.2%, indicating a deceleration from September’s 0.3% rise. Long-Term Trends and ComparisonsThe year-over-year analysis shows the all-items index rose by 3.2%, a decrease from September’s 3.7% rise. This is the smallest 12-month change since September 2021. Core inflation maintained a steady pace, with a 4.0% increase over the last 12 months. Additionally, the report reflects changes in the health insurance index calculation methodology, aiming to reduce data volatility and time lag.More By This Author:Earnings Review: Home Depot Reports Decrease In Sales, Narrows Outlook October’s CPI Print: What to ExpectBoeing Shares Up In Premarket As China Mulls Lifting 737 Freeze
