Thursday, November 20, 2014

CPI Unchanged in October, Increased 1.7% Yearly

The Consumer Price Index was unchanged in October on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported. The index increased 1.7% in the past year, before seasonal adjustment.

The index for food prices increased 0.1% on a seasonally adjusted basis, the smallest increase since June. However, food prices increased 3.1% from October 2013, the largest unadjusted change since April 2012.

Energy prices declined 1.9% over the month, the fourth consecutive drop, led by a 3.0% fall in energy commodities (a 3.0% decline in gasoline and 4.0% in fuel oil). Energy services declined 0.2%, as a 2.7% reduction in utility gas service was partially offset by a 0.5% increase in electricity.

The index for all items less food and energy rose 0.2% in October after increasing 0.1% in September. The monthly increase was led by rising prices for new vehicles (0.2%), services less energy services (0.3%), shelter (0.2%), transportation services (0.8%) and medical care services (0.2%), partially offset by a decline of 0.9% in used cars and trucks and 0.2% in apparel.

On a yearly basis, the energy index has fallen 1.6%. The fuel oil index has declined 6.5% and the gasoline index has fallen 5.0%. However, the index for natural gas has increased 3.4% and the electricity index has advanced 3.1%.

Read the Bureau of Labor Statistics report.

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