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U.S. Consumer Prices Tick Up 0.3% in October
The U.S. Bureau of Labor Statistics reported the Consumer Price Index for All Urban Consumers (CPI-U) climbed 0.3% in October on a seasonally adjusted basis, after rising 0.1% in September. The all items index rose 2.5% before seasonal adjustment, over the last 12 months.
An increase in the gasoline index was responsible for over one-third of the seasonally-adjusted increase in the all items index. But, advances in the indexes for shelter, used cars and trucks, and electricity also contributed to the increase. Surges in the gasoline and electricity indexes led to a 2.4% rise in the energy index. The food index, in contrast, declined slightly in October, according to the Labor Department.
The energy index has increased 8.9% over the last 12 months. The gasoline index rose 16.1% over the span, while the fuel oil index increased 26.2%. The electricity index increased modestly, rising 0.7% over the last year. The index for natural gas, in contrast, declined 2.1% over the last 12 months.
The index for used cars and trucks rose 2.6% in October, following a 3% decline in September.
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- ◦Economy
