Year-on-year, prices rose faster for fuel oil (26.2 percent compared to 23.4 percent in September); gasoline (16.1 percent compared to 9.1 percent); and rebounded for electricity (0.7 percent compared to -1.2 percent). On the other hand, inflation slowed for shelter (3.2 percent compared to 3.3 percent); transportation services (3.8 percent compared to 4 percent); food (1.2 percent compared to 1.4 percent); medical care services (1.9 percent compared to 2 percent); and was steady for new vehicles (0.5 percent, the same as in September). Also, prices fell for apparel (-0.4 percent compared to -0.6 percent); and utility piped gas service (-2.1 percent compared to -1.2 percent).
Excluding food and energy, core inflation edged down to 2.1 percent from 2.2 percent, below forecasts of 2.2 percent.
On a monthly basis, consumer prices increased 0.3 percent, higher than 0.1 percent in September and in line with forecasts. An increase in the gasoline index was responsible for over one-third of the increase; 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.
Excluding food and energy, core consumer prices edged up 0.2 percent, following a 0.1 percent gain in September and matching forecasts. 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.