U.S. Consumer Prices Rise 0.4% in October as Shelter Increases

What changed

Consumer prices for all urban consumers rose 0.4% in October, seasonally adjusted. Prices excluding food and energy increased 0.3%, while shelter also rose.

Why it matters

The figures show that inflation continued to move higher month over month in October, even after removing the often-volatile food and energy categories. Shelter’s increase matters because it is a major part of household budgets, though this release does not quantify the rise or identify the main drivers.

The data gives the Federal Reserve another reading to weigh as it assesses the path of interest rates. One month is not a trend, but the combination of a 0.4% headline increase and a 0.3% rise in the core measure keeps price pressure firmly in view.