United States: Inflation stable again in October
November 20, 2014
In October, consumer prices were flat over the previous month in seasonally-adjusted terms. The print was down from the 0.1% rise recorded in September but above market expectations of a 0.1% decline. The flat reading reflected that much lower prices for gasoline were offset by higher prices in several categories, including transportation, new vehicles, and food.
Annual inflation was stable at 1.7% for the third consecutive month in October, thus remaining at its lowest level since March. Meanwhile, core consumer prices, which exclude food and energy prices, rose 0.2% over the previous month, which was up from the 0.1% increase observed in September. The figure came in above market expectations of another 0.1% increase. Annual core inflation ticked up from September’s 1.7% to 1.8% in October. Annual average core inflation also ticked up from 1.7% in September to 1.8% in October.
Author: Carl Kelly, Economist