U.S. BLS: Consumer Price Index Rose in October

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October 2022 on a seasonally adjusted basis, matching the increase in the previous month. Although the all items index over the last 12 months rose 7.7 percent before seasonal adjustment, it was the smallest 12-month increase since the period ending January 2022. Over half of the monthly all items increase was contributed by the index for shelter, which rose 0.8 percent in October — the largest monthly increase since August 1990; and the energy index increased 1.8 percent after falling in the preceding 3 months. Response to the November 10th news of an easing of inflation, although remaining high, sparked a surge in stock prices, while bond yields dropped sharply Thursday morning “as traders welcomed signs of ebbing price pressures.” It is anticipated that the BLS news release will keep “the central bank on course to raise rates by a half-point next month and raises questions over how much higher it will lift them next year.”

Source:    https://www.bls.gov/news.release/pdf/cpi.pdf

Source:  https://www.wsj.com/articles/us-inflation-october-2022-consumer-price-index-11668050497