Jump to content

CPI… for All Urban Consumers increased 0.4 percent…

dasari4kntr

By dasari4kntr
in Discussions

 Share

Recommended Posts

dasari4kntr LEGEND

dasari4kntr

Posted
Posted

Consumer Price Index Summary 

Transmission of material in this release is embargoed until                                        
8:30 a.m. (ET) Thursday, November 10, 2022     USDL-22-2140	
	
Technical information: (202) 691-7000  *  [email protected]  *  www.bls.gov/cpi
Media contact:         (202) 691-5902  *  [email protected] 

CONSUMER PRICE INDEX - OCTOBER 2022

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a
seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 7.7 percent before seasonal
adjustment.

The index for shelter contributed over half of the monthly all items increase, with the indexes for
gasoline and food also increasing. The energy index increased 1.8 percent over the month as the
gasoline index and the electricity index rose, but the natural gas index decreased. The food index
increased 0.6 percent over the month with the food at home index rising 0.4 percent.

The index for all items less food and energy rose 0.3 percent in October, after rising 0.6 percent
in September. The indexes for shelter, motor vehicle insurance, recreation, new vehicles, and
personal care were among those that increased over the month. Indexes which declined in October
included the used cars and trucks, medical care, apparel, and airline fares indexes.

The all items index increased 7.7 percent for the 12 months ending October, this was the smallest
12-month increase since the period ending January 2022. The all items less food and energy index
rose 6.3 percent over the last 12 months. The energy index increased 17.6 percent for the 12 months
ending October, and the food index increased 10.9 percent over the last year; all of these
increases were smaller than for the period ending September.
Table A. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city average
 
  Seasonally adjusted changes from preceding month Un-
adjusted
12-mos.
ended
Oct. 2022
Apr.
2022 		May
2022 		Jun.
2022 		Jul.
2022 		Aug.
2022 		Sep.
2022 		Oct.
2022

Footnotes
(1) Not seasonally adjusted.

All items

0.3 1.0 1.3 0.0 0.1 0.4 0.4 7.7

Food

0.9 1.2 1.0 1.1 0.8 0.8 0.6 10.9

Food at home

1.0 1.4 1.0 1.3 0.7 0.7 0.4 12.4

Food away from home(1)

0.6 0.7 0.9 0.7 0.9 0.9 0.9 8.6

Energy

-2.7 3.9 7.5 -4.6 -5.0 -2.1 1.8 17.6

Energy commodities

-5.4 4.5 10.4 -7.6 -10.1 -4.7 4.4 19.3

Gasoline (all types)

-6.1 4.1 11.2 -7.7 -10.6 -4.9 4.0 17.5

Fuel oil(1)

2.7 16.9 -1.2 -11.0 -5.9 -2.7 19.8 68.5

Energy services

1.3 3.0 3.5 0.1 2.1 1.1 -1.2 15.6

Electricity

0.7 1.3 1.7 1.6 1.5 0.4 0.1 14.1

Utility (piped) gas service

3.1 8.0 8.2 -3.6 3.5 2.9 -4.6 20.0

All items less food and energy

0.6 0.6 0.7 0.3 0.6 0.6 0.3 6.3

Commodities less food and energy commodities

0.2 0.7 0.8 0.2 0.5 0.0 -0.4 5.1

New vehicles

1.1 1.0 0.7 0.6 0.8 0.7 0.4 8.4

Used cars and trucks

-0.4 1.8 1.6 -0.4 -0.1 -1.1 -2.4 2.0

Apparel

-0.8 0.7 0.8 -0.1 0.2 -0.3 -0.7 4.1

Medical care commodities(1)

0.1 0.3 0.4 0.6 0.2 -0.1 0.0 3.1

Services less energy services

0.7 0.6 0.7 0.4 0.6 0.8 0.5 6.7

Shelter

0.5 0.6 0.6 0.5 0.7 0.7 0.8 6.9

Transportation services

3.1 1.3 2.1 -0.5 0.5 1.9 0.8 15.2

Medical care services

0.5 0.4 0.7 0.4 0.8 1.0 -0.6 5.4 
Food

The food index increased 0.6 percent in October following a 0.8-percent increase in September. The
food at home index rose 0.4 percent in October, the smallest monthly increase in this index since
December 2021. Four of the six major grocery store food group indexes increased over the month. The
index for other food at home increased 0.9 percent in October, after rising 0.5 percent in
September. The index for meats, poultry, fish, and eggs rose 0.6 percent over the month while the
index for cereals and bakery products increased 0.8 percent in October. The index for nonalcoholic
beverages rose 0.5 percent in October, after rising 0.6 percent last month. 

In contrast, the index for fruits and vegetables fell 0.9 percent over the month after increasing
1.6 percent in September. The index for fresh fruits fell 2.4 percent and the index for fresh
vegetables fell 0.5 percent. The index for dairy and related products also declined in October,
falling 0.1 percent.

The food away from home index rose 0.9 percent in October, as it did in August and September. The
index for full service meals increased 1.1 percent and the index for limited service meals
increased 0.8 percent over the month. 

The food at home index rose 12.4 percent over the last 12 months. The index for cereals and bakery
products increased 15.9 percent over the year and the index for dairy and related products rose
15.5 percent. The remaining major grocery store food groups posted increases ranging from 8.0
percent (meats, poultry, fish, and eggs) to 15.4 percent (other food at home).

The index for food away from home rose 8.6 percent over the last year. The index for full service
meals rose 9.0 percent over the last 12 months, and the index for limited service meals rose 7.1
percent over the same period. 

Energy

The energy index increased 1.8 percent in October after falling in the preceding three months. The
gasoline index rose 4.0 percent over the month, also following three consecutive declines. (Before
seasonal adjustment, gasoline prices rose 3.1 percent in October.) The electricity index also
increased over the month, rising 0.1 percent. However, the index for natural gas decreased in
October, falling 4.6 percent after increasing 2.9 percent in September.

The energy index rose 17.6 percent over the past 12 months. The gasoline index increased 17.5
percent over the span and the fuel oil index rose 68.5 percent. The index for electricity rose
14.1 percent over the last 12 months, and the index for natural gas increased 20.0 percent over the
same period.

All items less food and energy

The index for all items less food and energy rose 0.3 percent in October, following a 0.6-percent
increase in September. The shelter index continued to increase, rising 0.8 percent in October, the
largest monthly increase in that index since August 1990. The rent index rose 0.7 percent over the
month, and the owners' equivalent rent index rose 0.6 percent. The index for lodging away from
home increased 4.9 percent in October, after declining 1.0 percent in September. 

The shelter index was the dominant factor in the monthly increase in the index for all items less
food and energy; other components were a mix of increases and declines. Among the indexes that
rose in October was the index for motor vehicle insurance which rose 1.7 percent in October after
rising 1.6 percent in September. The index for recreation rose 0.7 percent over the month, following
a smaller 0.1-percent increase in the previous month. The new vehicles index increased 0.4 percent
in October, and the personal care index rose 0.5 percent.

In contrast, the medical care index fell 0.5 percent in October after rising 0.8 percent in
September. The index for hospital and related services decreased 0.2 percent over the month, and
the index for prescription drugs declined 0.1 percent. The index for physicians' services was
unchanged in October. 

Other indexes which declined over the month include the index for used cars and trucks, which fell
2.4 percent in October after decreasing 1.1 percent in September. The apparel index fell 0.7 percent
over the month, after declining 0.3 percent the previous month. The index for airline fares fell 1.1
percent in October, following a 0.8-percent increase in September. The index for household
furnishings and operations was unchanged over the month.

The index for all items less food and energy rose 6.3 percent over the past 12 months. The shelter
index increased 6.9 percent over the last year, accounting for over 40 percent of the total increase
in all items less food and energy. Other indexes with notable increases over the last year include
medical care (+5.0 percent), household furnishings and operations (+8.4 percent), new vehicles (+8.4
percent), and personal care (+6.4 percent). 

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 7.7 percent over the last 12
months to an index level of 298.012 (1982-84=100). For the month, the index increased 0.4 percent
prior to seasonal adjustment.  

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 7.9 percent
over the last 12 months to an index level of 293.003 (1982-84=100). For the month, the index
increased 0.4 percent prior to seasonal adjustment.  

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 7.5 percent over the
last 12 months. For the month, the index increased 0.4 percent on a not seasonally adjusted basis.
Please note that the indexes for the past 10 to 12 months are subject to revision. 
_______________

 

https://www.bls.gov/news.release/cpi.nr0.htm

Link to comment
Share on other sites
Pandubabu Sr. Hero

Pandubabu

Posted
Posted
4 minutes ago, Googlie said:

So rates will increase ? 

I think they need a pattern, not just one month data..they will look for atleast 3 months before  they decide on anything .

Also.., rates will take some time to effect .

This is my peethaburra opinion

Link to comment
Share on other sites
dasari4kntr LEGEND

dasari4kntr

Posted
  • Author
Posted

Inflation Is Falling. It’s Good News for the Federal Reserve.

 

By 

Inflation cooled in October to its slowest pace since the start of the year, offering signs that the Federal Reserve’s rapid pace of monetary-policy tightening is beginning to have an impact on the pace of growth in consumer prices.

The consumer price index climbed at a 7.7% annual pace last month as the cost of some goods and travel services showed signs of cooling. That marked a sizable step down from September’s 8.2% annual rate and came in well below expectations of an 8% rise.

On a monthly basis, prices ticked up 0.4% in October from a month earlier, matching the previous month’s 0.4% climb. Economists had expected a 0.6% rise in October.

October’s cooling off was largely driven by falling costs for used cars and trucks, medical care, clothes and airline fares, the Labor Department said in a report released Thursday morning. Food prices increased, as did the cost of shelter, personal care and new cars.

While inflation remains rampant, October saw the slowest pace of price gains since January, before Russia invaded Ukraine and launched energy and commodity prices into an upward spiral. Price increases have now slowed significantly since they peaked in June, when the change in the CPI reached an annual rate of 9%.

That downward trend will come as welcome news to the Federal Reserve, which wants to see price growth slowing dramatically from where it has been in recent months. Central bank officials have emphasized they will need to see several months of deceleration in price gains before they will be convinced they have made progress in their fight against inflation, and there is nothing in the October report by itself that suggests a pause in monetary-policy tightening is near.

But October’s report will bolster the view that the Fed is on track at least to slow its pace of interest-rate increases beginning next month. The central bank is now widely expected to raise interest rates by a half-point in its December meeting, down from a series of four consecutive increases of 75 basis points, or 0.75 percentage point.

Indeed, stocks took off in response to the data. Shortly after the market opened, the Dow Jones Industrial Average DJIA +3.14%  was up nearly 900 points, or 2.6%. The S&P 500 SPX +4.65%  was 3.4% higher and the Nasdaq Composite COMP +6.18%  was ahead 4.5% as well.

“The inflation problem isn’t completely solved, but as the rate of change begins slowing down, it allows people to take some of the worst-case scenarios off the table,” Chris Zaccarelli, chief investment officer with the Independent Advisor Alliance, wrote on Thursday. “It’s too soon to call the all clear for this cycle, but it is a welcome reprieve for markets which have been like a beach ball held under water.”

Perhaps most important for the central bank, the details of the report show that inflation might finally be starting a meaningful slowdown, instead of one driven by a temporary drop in gasoline prices, which can be volatile month to month. For one, gasoline prices rose 4% over the month after three consecutive months of decline, meaning the cooling in headline inflation came despite rising gas prices.

Beyond that, the biggest driver of inflation for the month was shelter costs, which make up roughly one-third of the index and contributed more than half of the overall headline increase in October. But while shelter costs as measured in the government data are likely to stay high for months to come, they have shown signs of slowing in private-sector data that reflects what is happening in the market in closer to real time.

And that suggests a cooling off in housing inflation is already on the horizon. In another positive sign, services prices excluding the rent index fell during October for the first time since May 2020, as Jeffrey Roach, chief economist for LPL Financial, noted on Thursday.

The so-called core CPI, which excludes the volatile food and energy indexes and can be a better indication of where underlying price growth is heading, offered another reason for optimism. Core prices slowed more than expected, to a 0.3% monthly rise from 0.6% the month before, and reached a 6.3% annual rate, down from 6.6%.

All of that offers some reason to believe further slowing in the pace of inflation could be coming over the next couple of months. The Fed will see one more inflation report for November before its next policy meeting in mid-December, which will provide further signals as to where prices are trending.

Still, the central bank has been clear that it expects to continue tightening unless and until it sees several months of cooling prices. That means while interest-rate increases may be smaller than before, there are still more to come.

“Until we have had a run of these types of CPI reports, a pause is still some way out,” Seema Shah, chief global strategist with Principal Asset Management, wrote Thursday. “Let the market enjoy today. It still has another 100bps or so of tightening to commiserate.”

 

MORE ECONOMIC MUST-READS

Link to comment
Share on other sites
megadheera Celebrity

megadheera

Posted
Posted
1 minute ago, dasari4kntr said:

Inflation Is Falling. It’s Good News for the Federal Reserve.

 

By 

Inflation cooled in October to its slowest pace since the start of the year, offering signs that the Federal Reserve’s rapid pace of monetary-policy tightening is beginning to have an impact on the pace of growth in consumer prices.

The consumer price index climbed at a 7.7% annual pace last month as the cost of some goods and travel services showed signs of cooling. That marked a sizable step down from September’s 8.2% annual rate and came in well below expectations of an 8% rise.

On a monthly basis, prices ticked up 0.4% in October from a month earlier, matching the previous month’s 0.4% climb. Economists had expected a 0.6% rise in October.

October’s cooling off was largely driven by falling costs for used cars and trucks, medical care, clothes and airline fares, the Labor Department said in a report released Thursday morning. Food prices increased, as did the cost of shelter, personal care and new cars.

While inflation remains rampant, October saw the slowest pace of price gains since January, before Russia invaded Ukraine and launched energy and commodity prices into an upward spiral. Price increases have now slowed significantly since they peaked in June, when the change in the CPI reached an annual rate of 9%.

That downward trend will come as welcome news to the Federal Reserve, which wants to see price growth slowing dramatically from where it has been in recent months. Central bank officials have emphasized they will need to see several months of deceleration in price gains before they will be convinced they have made progress in their fight against inflation, and there is nothing in the October report by itself that suggests a pause in monetary-policy tightening is near.

But October’s report will bolster the view that the Fed is on track at least to slow its pace of interest-rate increases beginning next month. The central bank is now widely expected to raise interest rates by a half-point in its December meeting, down from a series of four consecutive increases of 75 basis points, or 0.75 percentage point.

Indeed, stocks took off in response to the data. Shortly after the market opened, the Dow Jones Industrial Average DJIA +3.14%  was up nearly 900 points, or 2.6%. The S&P 500 SPX +4.65%  was 3.4% higher and the Nasdaq Composite COMP +6.18%  was ahead 4.5% as well.

“The inflation problem isn’t completely solved, but as the rate of change begins slowing down, it allows people to take some of the worst-case scenarios off the table,” Chris Zaccarelli, chief investment officer with the Independent Advisor Alliance, wrote on Thursday. “It’s too soon to call the all clear for this cycle, but it is a welcome reprieve for markets which have been like a beach ball held under water.”

Perhaps most important for the central bank, the details of the report show that inflation might finally be starting a meaningful slowdown, instead of one driven by a temporary drop in gasoline prices, which can be volatile month to month. For one, gasoline prices rose 4% over the month after three consecutive months of decline, meaning the cooling in headline inflation came despite rising gas prices.

Beyond that, the biggest driver of inflation for the month was shelter costs, which make up roughly one-third of the index and contributed more than half of the overall headline increase in October. But while shelter costs as measured in the government data are likely to stay high for months to come, they have shown signs of slowing in private-sector data that reflects what is happening in the market in closer to real time.

 

And that suggests a cooling off in housing inflation is already on the horizon. In another positive sign, services prices excluding the rent index fell during October for the first time since May 2020, as Jeffrey Roach, chief economist for LPL Financial, noted on Thursday.

The so-called core CPI, which excludes the volatile food and energy indexes and can be a better indication of where underlying price growth is heading, offered another reason for optimism. Core prices slowed more than expected, to a 0.3% monthly rise from 0.6% the month before, and reached a 6.3% annual rate, down from 6.6%.

All of that offers some reason to believe further slowing in the pace of inflation could be coming over the next couple of months. The Fed will see one more inflation report for November before its next policy meeting in mid-December, which will provide further signals as to where prices are trending.

Still, the central bank has been clear that it expects to continue tightening unless and until it sees several months of cooling prices. That means while interest-rate increases may be smaller than before, there are still more to come.

“Until we have had a run of these types of CPI reports, a pause is still some way out,” Seema Shah, chief global strategist with Principal Asset Management, wrote Thursday. “Let the market enjoy today. It still has another 100bps or so of tightening to commiserate.”

 

MORE ECONOMIC MUST-READS

Greatclips vaadu 2 dollars penchindu last month. Vellaku ekkada slow down anipinchindo mari

Link to comment
Share on other sites
dasari4kntr LEGEND

dasari4kntr

Posted
  • Author
Posted
4 minutes ago, megadheera said:

Greatclips vaadu 2 dollars penchindu last month. Vellaku ekkada slow down anipinchindo mari

lol...

CPI measures...basket of item prices... mari ee haircut vundo ledho daantlo...

  • Haha 1
Link to comment
Share on other sites
megadheera Celebrity

megadheera

Posted
Posted
56 minutes ago, dasari4kntr said:

lol...

CPI measures...basket of item prices... mari ee haircut vundo ledho daantlo...

@csrcsr uncle ki aithe avasaram ledu. Anna own landscaping. Paina kinda. Migilina Nagara paurulandariki kavali kadanna

  • Haha 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing
×
×
  • Create New...