Consumer Price Index: October Headline At 2.52% -

Consumer Price Index: October Headline At 2.52%

Nov 14, 2018Jeremy ParkinsonFinance, No picture0

The Bureau of Labor Statistics released the October Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 2.52%, up from 2.28% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 2.14%, down from the previous month’s 2.17% and above the Fed’s 2% PCE target.

Here is the introduction from the BLS summary, which leads with the seasonally adjusted monthly data:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in October on a seasonally adjusted basis after rising 0.1 percent in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.5 percent before seasonal adjustment.

An increase in the gasoline index was responsible for over one-third of the seasonally adjusted increase in the all items index; advances in the indexes for shelter, used cars and trucks, and electricity also contributed. The increases in the gasoline and electricity indexes led to a 2.4-percent rise in the energy index. The food index, in contrast, declined slightly in October.

The index for all items less food and energy rose 0.2 percent in October following a 0.1-percent increase in September. Along with the indexes for shelter and for used cars and trucks, the indexes for medical care, household furnishings and operations, motor vehicle insurance, and tobacco all increased in October. The indexes for communication, new vehicles, and recreation all declined.

The all items index rose 2.5 percent for the 12 months ending October, a larger increase than the 2.3-percent increase for the 12 months ending September. The index for all items less food and energy rose 2.1 percent for the 12 months ending October. The energy index increased 8.9 percent, while the food index increased more modestly, advancing 1.2 percent over the last 12 months. [More…]

Investing.com was looking for a 0.3% MoM change in seasonally adjusted Headline CPI and 0.2% in Core CPI. Year-over-year forecasts were 2.5% for Headline and 2.2% for Core.