Inflation in the United States continued to rise in October, although the monthly pace of increase slowed compared with the previous month. According to the latest report from the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) for All Urban Consumers advanced 0.4% on a seasonally adjusted basis, following a 0.6% increase in September.
Housing costs remained a major contributor to monthly inflation, with the shelter index climbing 0.3% and accounting for more than 30% of the overall CPI increase. Food prices also moved higher by 0.5%, while groceries increased 0.4% and food purchased away from home rose 0.5%.
Energy prices recorded a more moderate increase of 0.7% in October, following a substantial 5.2% jump in the previous month. Meanwhile, the core inflation measure, which excludes food and energy prices, remained an important indicator for assessing underlying price pressures … (full story)
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