Energy prices advanced 1.7 percent in the 12 months to October, after rising 2.9 percent in September. This slower increase was led by smaller price gains for electricity and gasoline. Excluding energy, the CPI rose 1.1 percent in the 12 months to October, after rising 0.9 percent in September.
Food prices rose 2.0 percent in the 12 months to October, following a 1.6 percent increase in September. The October increase was led by year-over-year price gains for meat (+5.1 percent) and food purchased from restaurants (+2.1 percent).
Prices for transportation rose 1.7 percent on a year-over-year basis in October, after rising 1.6 percent in September. The increase in the transportation component in October was led by price gains for gasoline. Consumers also paid more for air transportation.
Shelter costs increased 0.9 percent in the 12 months to October, after rising 1.2 percent in September. Consumers paid 2.8 percent more in property taxes. Homeowner's replacement cost and rent also increased. Conversely, mortgage interest cost decreased 2.6 percent, continuing a pattern of year-over-year declines observed since 2009.