By Tom Burnett CFA
On November 10, 2022, the Bureau of Labor Statistics released the Consumer Price Index report for the month of October. The CPI rose 0.4% in October, the same increase as in September. Over the past 12 months, the Index rose by 7.7%. The 7.7% figure was the smallest increase since the period ending January 2022. Over the past four months, the monthly increase in the CPI has averaged just 0.225%.
The Core Index, excluding food and energy, rose 0.3% in October, following an increase of 0.6% in September. Over the past 12 months, the Core Index rose 6.3%, while the Energy Index increased 17.6% during that period. Food prices rose 10.9% over the past year.
The next CPI Report will be released on December 13, 2022.
Tom Burnett CFA is Director of Research