U.S. inflation rose in October for the first time since July, according to a U.S. Labor Department report released Tuesday, November 17, 2015.
Increases happened as medical care and shelter costs continued to rise, as did food prices. The cost of gasoline also ticked higher after plunging the two previous months.
In October, the Consumer Price Index (CPI) rose 0.2% after dropping 0.2% in September and easing 0.1% in August.
Energy prices rose 0.3% after tumbling 4.7% previously, and gasoline prices climbed 0.4% after plummeting 9% previously. Compared to a year earlier, energy prices are 17.1% lower and gasoline prices are 27.8% lower.
Grocery bills climbed for a fifth month in a row with food prices in October up 0.1% after jumping 0.4% in September. They are 1.6% higher than a year ago.
Stripping food and energy, the so-called core consumer prices rose 0.2% for the second straight month.
"The core has been pretty solid," Bloomberg News quoted Stephen Stanley, chief economist at Amherst Pierpont Securities LLC in Stamford, Connecticut. "It does feel core inflation has firmed up a little bit this year and I would imagine it’d continue to do so as the economy continues to take up slack."
In the broader picture, inflation over the past 12 months also increased 0.2%, matching the annual levels in July and August. Annual inflation ended September was flat.
"The 12-month change has been between negative 0.2 percent and positive 0.2 percent since January," the Labor Department’s report noted.
Finally, core inflation over the last year registered at 1.9% for a straight time after three prior 12-month gains each at 1.8%. Core inflation is a key reading monitored by the Federal Reserve. The Fed has a stated inflation target of 2%.
Below are the most-watched consumer prices by category as well as their month-over-month and annual changes, as presented by the Bureau of Labor Statistics (BLS). For the full BLS summary report for October, visit http://www.bls.gov/news.release/archives/cpi_11172015.htm.
Table of US Inflation / Consumer Prices (%)
|Apr 2015||May 2015||June 2015||July 2015||August 2015||September 2015||October 2015||12 Month|
|Food at home||-0.2||-0.2||0.4||0.3||0.3||0.3||0.1||0.7|
|Food away from home||0.2||0.2||0.2||.0||0.2||0.5||0.2||2.9|
|Gasoline (all types)||-1.7||10.4||3.4||0.9||-4.1||-9.0||0.4||-27.8|
|Utility (piped) gas service||-2.6||.0||0.3||-1.4||1.3||-0.3||-0.7||-11.0|
|All items less food, energy||0.3||0.1||0.2||0.1||0.1||0.2||0.2||1.9|
|Commodities less food, energy||0.1||-0.1||-0.1||-0.1||-0.1||.0||-0.1||-0.7|
|Used cars and trucks||0.6||-0.4||-0.4||-0.6||-0.4||-0.2||-0.3||-1.4|
|Services less energy||0.3||0.2||0.3||0.2||0.1||0.3||0.3||2.8|
The Consumer Price Index report for November has a scheduled release date of December 15, 2015 at 8:30 a.m. (EDT).