US consumer inflation eased in October, with the Consumer Price Index (CPI) rising 0.4% month on month, down from a 0.6% increase in September but above the consensus forecast of 0.3%. Core inflation, which excludes food and energy, climbed 0.3%, matching the pace seen in both August and September and exceeding expectations of a 0.2% gain.
Shelter costs increased 0.3%, accounting for more than 30% of the overall rise in the CPI. Food prices advanced 0.5%, driven by higher grocery costs, particularly for snacks, meat, fruits and vegetables, and dairy products. Prices for meals away from home also rose 0.5%.
Energy prices were up 0.7%, a sharp slowdown from September’s 5.2% surge, as a 1% increase in gasoline prices and a 0.9% rise in electricity costs were partly offset by a decline in natural gas prices. Recreation, medical care, and motor vehicle insurance also became more expensive, while prices for used cars and communication services fell.
The Bureau of Labor Statistics (BLS) noted that it was unable to calculate year-on-year inflation rates for October because data for 2025 were unavailable due to a lapse in government funding.
