The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.7 percent before seasonal adjustment. The index for shelter contributed over half of the monthly all items increase, with the indexes for gasoline and food also increasing. The energy index increased 1.8 percent over the month as the gasoline index and the electricity index rose, but the natural gas index decreased. The food index increased 0.6 percent over the ... (full story)

Inflation eased ever so slightly last month but remained too high for comfort. Annual inflation is 7.7%, down from September's 8.2%. The so-called core rate that excludes the volatile food and energy sectors rose by 0.3%, just a hair below the prior month's 6.6%, which was the highest since August 1982. Economists expected, on average, an 8% headline rate and 6.5% core rate. The declines are so small that consumers may not feel much relief in day-to-day life, but in the overall inflation fight, the declines might signal that at least the worst is over. If data in the weeks ahead confirm prices are stabilizing and the ... (full story)