CPI – October 2014

Consumer Price Index (CPI)


CPI – M/M change 0.0 %
CPI – Y/Y change 1.7 %
CPI less food & energy 0.2 %
CPI less food & energy – Y/Y change 1.8 %

Overall consumer prices in October were a flat 0.0 percent after firming 0.1 percent in September.  Market expectations were for a 0.1 percent dip.  Excluding food and energy, the CPI was warmer, gaining 0.2 percent after nudging up 0.1 percent in September.  The consensus was for a 0.1 percent increase in October.

Energy fell 1.9 percent after slipping 0.7 percent September.  Gasoline dropped 3.0 percent after declining 1.0 percent the month before.   Food price inflation rose 0.1 percent, following a gain of 0.3 percent in September.

For the core rate, the shelter index, airline fares, household furnishings and operations, medical care, recreation, personal care, tobacco, and new vehicles were among the indexes that increased. The indexes for used cars and trucks and for apparel declined in October.

On a seasonally adjusted basis, the headline CPI was up year-ago 1.7 percent versus 1.7 percent in September.   Excluding food and energy, the year-ago pace was 1.8 percent, compared to 1.7 percent the month before.

While consumer price inflation firmed marginally, the year-ago rate is still below the Fed’s target of 2 percent-especially when converted to a PCE basis which has been running below the CPI.

By |2014-11-06T14:37:45+00:00November 6th, 2014|Categories: Economics, Lagging|0 Comments

About the Author:

Bryan Sanford is Vice President and Investment Officer of Charter Trust Company. He joined the firm in 2009 and is based in our Concord NH office. Mr. Sanford received his Bachelors of Science degree from the University of New Hampshire, Durham. Mr. Sanford has held the FINRA Series 7 license. Prior to joining Charter Trust, Mr. Sanford served in the United States Marine Corps as an infantryman. He participated in Operation Iraqi Freedom, touring in Fallujah, Iraq.

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