By Tom Burnett CFA
On November 14, 2023, the Bureau of Labor Statistics released its CPI report for October. The CPI was unchanged for the month, after increasing by 0.4% in September. The October figure was the smallest since December 2022. Over the past 12 months, the CPI rose by 3.2%, the smallest year-over-year increase since June 2023.
The Core rate, excluding food and energy, rose 0.2% in October, following an increase of 0.3% in September. The Core rate of increase was 4.0% over the past year, the lowest 12-month change since September 2021. Over the past year, the Energy Index decreased by 4.5% while the Food Index rose by 3.3%.
The next CPI Report will be issued on December 12, 2023.
Tom Burnett CFA is Director of Research