October saw inflation slow, as the Consumer Price Index remained unchanged from September and 3.2 percent above October 2022.
The food index rose 0.3 percent in October from September and was 3.3 percent above a year ago. Food at home was 2.1 percent above October 2022, while food away from home was 5.4 percent higher.
The fruits and vegetebales index was 1.1 percent higher in October, year-over-year, but fresh was down 0.1 percent over that time. Fresh fruit was 1.8 percent higher than a year ago, and fresh vegetables were 2.2 percent lower than a year ago. Frozen fruits and vegetables rose 8.0 percent above a year ago.
The U.S. Bureau of Labor Statistics released this report November 14, 2023:
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October on a seasonally
adjusted basis, after increasing 0.4 percent in September, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal
adjustment.
The index for shelter continued to rise in October, offsetting a decline in the gasoline index and
resulting in the seasonally adjusted index being unchanged over the month. The energy index fell 2.5
percent over the month as a 5.0-percent decline in the gasoline index more than offset increases in
other energy component indexes. The food index increased 0.3 percent in October, after rising 0.2
percent in September. The index for food at home increased 0.3 percent over the month while the index
for food away from home rose 0.4 percent.
The index for all items less food and energy rose 0.2 percent in October, after rising 0.3 percent in
September. Indexes which increased in October include rent, owners’ equivalent rent, motor vehicle
insurance, medical care, recreation, and personal care. The indexes for lodging away from home, used
cars and trucks, communication, and airline fares were among those that decreased over the month.
The all items index rose 3.2 percent for the 12 months ending October, a smaller increase than the
3.7-percent increase for the 12 months ending September. The all items less food and energy index
rose 4.0 percent over the last 12 months, its smallest 12-month change since the period ending in
September 2021. The energy index decreased 4.5 percent for the 12 months ending October, and the food
index increased 3.3 percent over the last year.
Food
The food index rose 0.3 percent in October, after rising 0.2 percent in each of the last 3 months. The
index for food at home increased 0.3 percent over the month, after rising 0.1 percent in September.
Four of the six major grocery store food group indexes increased over the month. The index for meats,
poultry, fish, and eggs rose 0.7 percent in October as the index for beef increased 1.2 percent and
the index for pork rose 1.3 percent. The other food at home index increased 0.3 percent over the
month, as did the dairy and related products index. The index for cereals and bakery products rose
0.2 percent in October, after falling 0.4 percent in September.
The index for nonalcoholic beverages decreased 0.1 percent in October, after being unchanged in
September. The fruits and vegetables index was unchanged over the month, as it was in September.
The food away from home index rose 0.4 percent in October, as it did in September. The index for
limited service meals increased 0.5 percent and the index for full service meals rose 0.3 percent
over the month.
The food at home index rose 2.1 percent over the last 12 months. The index for cereals and bakery
products rose 4.2 percent over the 12 months ending in October. The dairy and related products index
decreased 0.4 percent over the year. The remaining major grocery store food group indexes posted
increases ranging from 0.4 percent (meat, poultry, fish, and eggs) to 3.6 percent (other food at
home).
The index for food away from home rose 5.4 percent over the last year. The index for limited service
meals rose 6.2 percent over the last 12 months, and the index for full service meals rose 4.3 percent
over the same period.
