On Tuesday, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in October, following a 0.4% increase in September. Over the past year, the all-items index rose 3.2% before seasonal adjustment, marking a notable trend in consumer pricing.
Steady CPI in October Balances Shelter Rise Against Gasoline Drop; Markets and Crypto React With Mixed Sentiments
The October CPI report highlighted a continuous rise in the shelter index, balancing out a significant 5% drop in the gasoline index. This juxtaposition resulted in an overall unchanged seasonally adjusted index for the month. The broader energy index decreased by 2.5%, further contributing to the stabilization of consumer prices, according to the report.
The U.S. Labor Department noted that the food index saw a modest increase of 0.3% in October, continuing its upward trend from a 0.2% rise in September. Notably, the cost of food at home mirrored this increase, whil
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