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November 14, 2023US CONSUMER PRICE INDEX, OCTOBER 2023 The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 3.2% year-over-year in October 2023. Compared to October 2022, prices were higher in food (+3.3%) and shelter (+6.7%), and lower in energy (-4.5%) and gasoline (-5.3%). The CPI excluding food and energy rose 4.0%, continuing its trend of slowing.
The month-over-month (seasonally adjusted) change in the CPI was unchanged (+0.04%) in October 2023, declining from the 0.4% pace from previous month. Over the past month, shelter continued to rise (+0.3%), but was offset by declines in gasoline (-5.0%) and energy (-2.5%). The index for shelter rose for the 42nd consecutive month and food index was up 0.3% compared to the previous month. The CPI excluding food and energy index was up 0.2% for the month.
Note:
Canada and Nova Scotia August 2023 CPI figures will be released on November 21, 2023.
Sources:
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
US Bureau of Labor Statistics, retrieved from Federal Reserve Bank of St. Louis using the FRED API.
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